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Market Demand
The total quantity of a good or service that all consumers in a market are willing and able to purchase at various prices.
Externalities
Costs or benefits that affect a party who did not choose to incur that cost or benefit.
Consumer Surplus
The difference in the total amount expected to be paid by consumers for a good or service and the actual payment made.
Willingness to Pay
Willingness to Pay is the maximum amount an individual or organization is ready to spend to procure a product or service, reflecting the value they attach to it.
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