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Demand & Supply

TermDefinition
Effective Demand Effective demand is a willingness to buy, backed up by an ability to pay
Market A market is a place where buyers and sellers interact in order to exchange goods and services
Demand Demand refers to the quantity of a product that consumers are willing to buy at a given price
Inflation Inflation is a sustained increase in the general level of prices from one period to another
Quota A quota is a limit on the number of goods made available for sale
Created by: Ava White
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