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Solutions for Chapter 31: Southeast Asia

World Geography | ISBN: 9780618689989 | Authors: McDougal Littel

Full solutions for World Geography

ISBN: 9780618689989

World Geography | ISBN: 9780618689989 | Authors: McDougal Littel

Solutions for Chapter 31: Southeast Asia

Solutions for Chapter 31
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Textbook: World Geography
Edition:
Author: McDougal Littel
ISBN: 9780618689989

World Geography was written by and is associated to the ISBN: 9780618689989. This expansive textbook survival guide covers the following chapters and their solutions. This textbook survival guide was created for the textbook: World Geography, edition: . Chapter 31: Southeast Asia includes 38 full step-by-step solutions. Since 38 problems in chapter 31: Southeast Asia have been answered, more than 11964 students have viewed full step-by-step solutions from this chapter.

Key Business Terms and definitions covered in this textbook
  • agent

    a person who is performing an act for another person, called the principal

  • capital requirement

    a government regulation specifying a minimum amount of bank capital

  • consumer surplus

    the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it

  • corrective tax

    a tax designed to induce private decision makers to take account of the social costs that arise from a negative externality

  • depression

    a severe recession

  • diminishing marginal product

    the property whereby the marginal product of an input declines as the quantity of the input increases

  • equilibrium

    a situation in which the market price has reached the level at which quantity supplied equals quantity demanded

  • equilibrium quantity

    the quantity supplied and the quantity demanded at the equilibrium price

  • Giffen good

    a good for which an increase in the price raises the quantity demanded

  • horizontal equity

    the idea that taxpayers with similar abilities to pay taxes should pay the same amount

  • income effect

    the change in consumption that results when a price change moves the consumer to a higher or lower indifference curve

  • labor-force participation rate

    the percentage of the adult population that is in the labor force

  • law of supply

    the claim that, other things being equal, the quantity supplied of a good rises when the price of the good rises

  • market failure

    a situation in which a market left on its own fails to allocate resources efficiently

  • model of aggregate demand and aggregate supply

    the model that most economists use to explain shortrun fluctuations in economic activity around its long-run trend

  • political economy

    the study of government using the analytic methods of economics

  • price discrimination

    the business practice of selling the same good at different prices to different customers

  • production possibilities frontier

    a graph that shows the combinations of output that the economy can possibly produce given the available factors of production and the available production technology

  • variable costs

    costs that vary with the quantity of output produced

  • welfare economics

    the study of how the allocation of resources affects economic well-being

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