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What will happen if both the demand for and supply of a product decrease simultaneously?
Probability
A quantification of an event's chance of happening, displayed as a figure between 0 and 1, where 0 denotes that the event is impossible and 1 denotes absolute certainty of the event occurring.
Occurs
Takes place or happens, often used in the context of events or phenomena that are observed.
Plastic Arrow
A type of arrow made primarily of plastic, typically used for archery training or as a toy.
Probability Assignment
The process of assigning a numerical value between 0 and 1 to the likelihood of an event's occurrence.
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