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In an open circulatory system,
Quantity Demanded
The combined sum of a good or service that purchasers can and are eager to acquire at an established price level.
Government Intervention
Actions taken by a government to affect the economy, which can include policies, regulations, subsidies, tax incentives, and direct spending.
Market Equilibrium
A situation where the quantity of goods supplied is equal to the quantity of goods demanded, often resulting in a stable market price.
Excess Demand
A situation in the market where the quantity demanded of a good or service surpasses the quantity supplied at the current price, leading to upward pressure on prices.
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