Examlex
The action of salivary amylase in the mouth is an example of
Substitute Goods
Substitute goods are products or services that can be used in place of each other, fulfilling similar needs or desires.
Consumer Income
The total amount of income earned by consumers, impacting their ability to purchase goods and services.
Equilibrium Price
The price at which the quantity of goods demanded is equal to the quantity of goods supplied, leading to a market balance.
Equilibrium Quantity
At the market price, the amount of goods or services available perfectly matches the amount consumers want to buy.
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