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प्रश्न
Explain very long period or secular period.
स्पष्ट कीजिए
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उत्तर
- A very long period of time is one during which fundamental changes in demand and supply can occur.
- Secular period refers to a price that is decided over a long period of time. This time period is characterized by trade cycles.
- Example: Industrial revolution, digital transformation, climate change impact on production.
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