Examlex
What is process modeling? What are the deliverables for process modeling?
Decrease in Supply
A situation where the quantity of a good or service that producers are willing to offer for sale at a given price level decreases.
Decrease in Demand
A reduction in the quantity of a good or service that consumers are willing and able to purchase at a given price range.
Equilibrium Price
The market price at which the quantity of goods supplied is equal to the quantity of goods demanded.
Demand Curve
A graph showing the relationship between the price of a good and the quantity of the good that consumers are willing to buy.
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