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Equilibrium World Price
The price at which the quantity of a good supplied globally equals the quantity demanded, in international trade.
Domestic Quantity Supplied
The total amount of a product that producers in a country are willing and able to sell at a given price level within a specified period.
Domestic Quantity Demanded
The total amount of a good or service that consumers in a country are willing and able to purchase at a given price level, within a specified period.
Hypothetical Nations
Imaginary countries used in theoretical models or scenarios to illustrate economic principles or theories.
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