Term
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Definition
| The maker of the SUPPLY of a good or service |
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Term
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Definition
| When demand is greater than supply |
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Term
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Definition
| When price goes up supply goes up and when price goes down supply goes down |
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Term
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Definition
| When supply is greater than demand |
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Term
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Definition
| When price goes up demand goes down and when price goes down demand goes up |
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Term
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Definition
| The point on a supply and demand graph where supply and demand meet. |
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Term
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Definition
| When one company makes a product similar to one already in production by another company |
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Term
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Definition
| The source of the DEMAND for a good or service |
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Term
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Definition
| How much a consumer wants a product |
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