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?? ?? Economics for Beginners ?? ?? Essential Terms - What is Economics? #Economics101 #economics #learnEach organisation in this network has a strong understanding of the needs economic groups | Place-based working | Tackling inactivity | Uniting the Movement. Economists generally lump together the quantities suppliers are willing to produce at each price into an equation called the supply curve. The higher the price. Balance of payments. A summary of all the transactions involving goods and services and investment that all individuals, firms, and the government of one nation.