Examlex
The nervous system is capable of picking up on stimuli and initiating automated sequences of behavior, without conscious awareness.
Demand Curve
A graph showing the relationship between the price of a good and the quantity demanded by consumers.
Market Price
The current price at which an asset or service can be bought or sold in a competitive marketplace.
Consumer Surplus
The difference between the total amount consumers are willing and able to pay for a good or service versus the total amount they actually pay.
Producer Surplus
The difference between what producers are willing to accept for a good versus what they actually receive.
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