Examlex
According to this diagram showing the boiling of liquid water, what happens to liquid water when it boils?
Equilibrium
The state in which market supply and demand balance each other, resulting in stable prices.
Normal Goods
Goods for which demand increases when consumer income rises, and decreases when consumer income falls.
Consumption
The use of goods and services by households or individuals, constituting one of the primary components of an economy's aggregate demand.
Consumer Preferences
The inclinations or choices of individuals or groups regarding various goods and services that reflect taste, convenience, affordability, and other factors.
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