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the paradox of thrift refers to the choice that individuals save rather than spending can increase the influences of a recession.

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The Paradox of Thrift is the idea that saving money is good for one person, but if everyone saves and spends less, it can hurt the economy. When people spend less, businesses sell less, which can lead to job cuts and higher unemployment. So, while saving is good for individuals, too much saving by everyone can make the economy worse.

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Its says that its better to be thrifty and save then going and spending. and its saying that goverments should spend the money on job so they can get more employment

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The economic idea that it is impossible to achieve independent monetary policy , a fixed exchange rate and control over foreign capital flow.

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The economic principle which explains that economies can benefit from international trade , even if an economy can produce all goods and services at an absolute advantage. If Economy A produces shirts at a lower opportunity cost compared to Economy B , while Economy B produces sunglasses at a lower opportunity cost compared to Economy A , then it would be beneficial for each economy to specialise in good of lower opportunity cost and export the surplus through international trade to reduce their opportunity cost for the good they don't specialise in.

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An economic model named after Bill Phillips that states that inflation and unemployment have an inverse relationship. Specifically , it correlates an increase in unemployment with a decrease in inflation , and a decrease in unemployment with an increase in inflation.

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One of the biggest economic questions that government face , whether to increase government spending in response to economic decline or maintain a budget surplus throughout the business cycle

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The economic concept argued by Adam Smith that economies should be devoid of government intervention as economic and social benefits are more likely to arise as self-interested consumers and businesses are guided by "invisible hands" to produce positive market outcomes

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Adam smith said that government should just let people buy and sell between themselves and if they let traders compete with one another then the market would work itself out.

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This is an economic concept that says it is impossible for a country to simultaneously achieve three goals: a fixed foreign exchange rate, free capital movement, and an independent monetary policy. According to this theory, a country can only choose two out of the three objectives, as attempting for all three would result in conflicting economic outcomes and  instability in the economy.

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The invisible hand guides markets toward favourable outcomes without intervention because of the collective wants and needs of the consumers.

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Self-Interest and Social Welfare: The concept implies that individuals, motivated by their self-interests, engage in voluntary exchanges that ultimately benefit society as a whole. While individuals may not directly intend to benefit society, the pursuit of their self-interests leads to outcomes that promote economic growth and the satisfaction of societal needs.

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Self-Interest and Social Welfare: The concept implies that individuals, motivated by their self-interests, engage in voluntary exchanges that ultimately benefit society as a whole. While individuals may not directly intend to benefit society, the pursuit of their self-interests leads to outcomes that promote economic growth and the satisfaction of societal needs.

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Rational choice theory states that individuals rely on rational calculations to make rational choices that result in outcomes aligned with their own best interests. Rational choice theory is often associated with the concepts of rational actors, self-interest, and the invisible hand.

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Rational choice theory states that individuals rely on rational calculations to make rational choices that result in outcomes aligned with their own best interests. Rational choice theory is often associated with the concepts of rational actors, self-interest, and the invisible hand.

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The theory of comparative advantage is that even when countries can produce everything it needs by itself it should still only produce the goods that it can make while using less resources and money, then trade these goods with other goods that they need from other countries.

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The Rational Choice Theory suggests that the individual will evaluate the cost-benefit of a certain product or service before buying it. Basically the consumer is smart enough on their own to make sure that the purchase they make is beneficial for them.

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The paradox of thrift is a paradox of economics. The paradox states that an increase in autonomous saving leads to a decrease in aggregate demand and thus a decrease in gross output which will in turn lower total saving.

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The invisible hand was a concept that was created by Adam Smith who stated that the best way for everyone to be best off is to leave self interest traders to buy and sell freely without the government. This leads to lower prices due to increased competition. This would later inspire economists like Milton Friedman and Hayek to state that this is leads to better outcomes for all.

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The Phillips Curve is a graph with inflation on the left and unemployment along the bottom, this curve shows the inverse relationship between inflation and unemployment, meaning with economic growth comes inflation, which should lead to more jobs and less unemployment. (IN THEORY *cough* *cough* 1970's Britain)

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The invisible hand is something (force) that can’t be seen but will always reach an equal point that is called equilibrium. A free economy will find a way to be balanced and happy.

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The invisible hand is the concept that when people are left alone in the free market they will work out a market equilibrium without the intervention of the government.

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The invisible hand is a metaphor for the unrevealed forces that move the 'free-market economy.' It describes the unintended social benefits of an individual's self-interested actions

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The unobservable market force that helps the demand and supply of goods in a free market to reach equilibrium automatically is the invisible hand.

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this is the principle when its impossible to have a fixed foreign exchange rate, free capital movement and an independent monetary policy all at the same time

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Whether to save money or spend it.

When saving money the unemployment rises but when they spend the employment rises again. It outlines that individuals try to save more during an economic recession, which then leads to a fall in aggregate demand then in economic growth.