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Unit 2 - Coggle Diagram
Unit 2
demand
Definition: the quantity of a good or service that a consumer or group of consumers are willing and able to purchase at z given price in a given time period
Law of Demand: There is an inverse relationship between price and quantity demanded. EX) when the price goes down for cips, the quantity consumers buy will increase
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supply
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Definition: the quantity of goods that producers will produce and sell at a given price over a particular time period, ceteris paribus.
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