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Domestic Price
The price of goods and services within a country's borders, influenced by local demand and supply conditions.
World Price
The price of a good or service in the international marketplace, influenced by the global dynamics of supply and demand.
Import Quota
A government-imposed limit on the quantity of a particular good that can be imported into a country.
Equilibrium Price
The price at which the quantity of goods demanded equals the quantity of goods supplied, resulting in a stable market condition.
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