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SBV list 7-2
| Question | Answer |
|---|---|
| entrepreneurship | The organization of productive resources by a person willing to take a risk to start a business |
| initiative | A petition process by which a certain percentage of voters can put a proposed constitutional amendment or statute on the ballet for popular approval or rejection or submit a proposed statute to a legislative assembly for approval. |
| marginal benefit | The change in total benefit resulting from an action. |
| Market clearing price | The one price at which quantity supplied equals quantity demanded (also referred to as equilibrium price) |
| nonrenewable resource | A finite natural resource that cannot be replaced once it is used. |
| perspective | A specific point of view in understanding or judging things or events |
| rights | Just claims that belong to a person by law, nature or tradition. |
| supply | The quantities of a good or service that producers are willing and able to provide at various prices during a given time period. |
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sbadger
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