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' Topic 1 Background/Key Concepts - Opportunity cost, economic incentives, efficiency - Economic agents and the economy - Role of government in an economy -

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' Topic 1 Background/Key Concepts - Opportunity cost, economic incentives, efficiency - Economic agents and the economy - Role of government in an economy - Macroeconomic stabilization (deal with business cycle fluctuations) - Correct for Market Failure - Ensure Fairness and Equity for Citizens - Division of Powers across levels of government - Mismatch of Responsibilities and RevenueGenerating Capacity

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