Examlex
Identify the letter of the choice that best matches the word or phrase with its definition.
-Data table cells containing values that can vary
Equilibrium Price
The price point in the market where the amount of goods being offered matches the amount of goods consumers want to buy.
Inverse Demand Function
A mathematical function showing the relationship between the price of a good and the quantity demanded, illustrating how price can be determined as a function of quantity.
Inverse Supply
A concept in economics that describes the relationship between the price of a good and the quantity supplied by producers, typically showing that as price decreases, the quantity supplied decreases.
Tax
Compulsory contributions to state revenue, levied by the government on workers' income, business profits, or added to the cost of some goods, services, and transactions.
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