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Positive Statement Define the assigned term in your own words. Provide an original, economics-based explanation of the term. Provide a real/hypothetical contextual example (different from

Positive Statement

Define the assigned term in your own words.

Provide an original, economics-based explanation of the term.

Provide a real/hypothetical contextual example (different from that provided in the text) of the term as it is applied to economics.

Do not just list the above in bullet-point style.

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