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2. Occurs when there is only one buyer of a product or service

  • Monopoly power
  • Monopsony power
  • Monopsony
  • Monopoly

3. Describes how efficiently resources are actually being used, usually by looking at output per unit of input

  • TQM
  • Productivity
  • Labour capital
  • Productivity efficiency

4. Measures the proportionally change in quantity demanded following a change in income

  • Income elasticity of demand
  • Income inelastic
  • Price elasticity of demand
  • Income elastic

5. Investment, government expenditure and exports - increased demand for domestically produced goods and services

  • Injections
  • Leakages
  • Economic growth
  • Appreciation

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