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What Is the Effect on the Price and Quantity of a Product

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What is the effect on the price and quantity of a product if the demand decreases and the supply simultaneously increases?


Definitions:

Urban Sprawl

The spread of city development into areas outside of traditional urban centers, often characterized by low-density and car-dependent communities.

Squatter Settlement

An area of unauthorized or informal housing, often lacking basic services, created by people with nowhere else to live.

Developing Countries

States that have a lower standard of living, less developed industries, and a lower score on the Human Development Index compared to other countries.

Environmental Benefit

Positive effects or outcomes on the natural environment, including improved air and water quality, biodiversity preservation, and ecosystem resilience.

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