Examlex
The part identified by the arrow in this figure is the:
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a particular price.
Equilibrium
A state where supply equals demand in a market, resulting in no inherent force for price change.
Equilibrium Price
The market price at which the quantity of goods supplied is equal to the quantity of goods demanded, also known as the market-clearing price.
Shortage
A scenario in which the need for a product surpasses the amount available at a particular price.
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