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Economic Principles. This paper sheds light on various economic concepts from Neoclassicism era and also discusses their survival and validity in the 21st century. Neoclassic economics developed concepts, which are still popular in certain areas, because they were parallel to the principles of a free economy. But some changes were introduced in certain models and concepts when they were considered flawed and no longer appeared valid. 4 pgs, bibliography lists 2 sources.
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