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Economics is a branch of social science that studies the production, distribution, and consumption of goods and services. Economics experts study how society consumes limited resources to satisfy various needs and wants using a variety of economic concepts.
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Classical or free markets are unobstructed or lack restriction from the government or other major key players. The critical feature of this market is free competition characterized by private transactions between all players. With your help with economics, we will develop clear theories that define free markets, their metrics, and their downfalls.
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