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Define commuter village

A commuter village is a residential area located outside of a city or urban centre where residents typically live and work in the city. These villages are characterised by their...

Define Central Business District

The Central Business District (CBD) is typically the commercial and economic hub of a city or town. It is characterised by a concentration of businesses, financial institutions, government offices, and...

What is excess demand?

Excess demand occurs when the quantity of a good or service demanded by consumers is higher than the quantity supplied by producers at a specific price level. This situation can...
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