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affordable

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Able to be paid for; not too expensive.

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concept of affordability

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The idea that a product or service is priced within the financial reach of consumers.

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factors affecting affordability

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Income level, cost of living, and market demand.

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importance of affordability in economics

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It influences consumer behavior and market trends.

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affordable housing

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Housing that is reasonably priced for individuals or families with low to moderate incomes.

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affordability index

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A measure that indicates the ability of a typical family to afford a home.

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relationship between income and affordability

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As income increases, affordability generally improves, allowing for more purchasing power.

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impact of inflation on affordability

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Inflation can decrease affordability by increasing prices while wages may not keep pace.

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affordability in education

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Refers to the cost of tuition and fees being manageable for students and families.

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affordable healthcare

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Healthcare services that are reasonably priced and accessible to the general population.