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Supply And Demand Analysis
An economic model used to understand the pricing and quantity of goods in a market by examining how the availability of a product (supply) and the desire for it (demand) interact.
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 within a given period.
Reservation Price
The maximum price a consumer is willing to pay for a good or service.
English Auction
A method of sale consisting of public bidding where the price ascends, and the highest bid wins the item.
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