Examlex
In the context of the scientific method, a _____ is a proposition that can be tested by researchers or observers to determine if it is valid.
Equilibrium Price
The cost at which the amount of a product or service that consumers want to purchase matches the amount available, leading to equilibrium in the market.
Supply Decreases
A reduction in the amount of a product or service that is available for sale, often resulting in higher prices if demand remains the same.
Demand Increases
A situation in which the desire and willingness to purchase a good or service rises, often due to factors like income growth or preference changes.
Substitute Good
A good that can replace another to satisfy similar needs or desires, often influenced by changes in prices and consumer preferences.
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