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Demand Decreases
Occurs when consumers are less willing or able to purchase a product at any given price, leading to a leftward shift in the demand curve.
Shift Left
A decrease in the supply or demand of a product in a market diagram, typically resulting in a lower equilibrium quantity and potentially a higher or lower equilibrium price.
Demand
The quantity of a good or service consumers are willing and able to purchase at various prices.
Normal Good
a good for which demand increases as the income of consumers increases and falls when their income decreases, assuming all other factors are constant.
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