Examlex
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Demand Curve
The Demand Curve is a graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers, typically downward sloping.
Supply Curve
A graph showing the relationship between the price of a good and the quantity of the good that suppliers are willing to produce and sell.
Y Axis
The vertical line in a graph or chart that typically represents the dependent variable.
Equilibrium Price
The point where the volume of goods being offered equals the volume of goods being sought in terms of price.
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