Examlex
Which of the following occurred on the west face of Nevado Huascaran in Peru in 1962 and again in 1970?
Demand Increase
A situation where the desire and willingness to purchase a good or service grows, often resulting in higher prices.
Supply Decrease
A reduction in the quantity of a product or service that is available for sale.
Market Equilibrium Price
The market equilibrium price is the price at which the quantity of goods suppliers offer equals the quantity of goods consumers are willing to buy.
Quantity Demanded
The entire quantity of a product or service that buyers are prepared and can afford to buy at a specific price.
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