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European Union
A political and economic union of 27 European countries that participate in a single market allowing free movement of goods, services, capital, and people.
Supply Curve
A graphical representation showing how the quantity of a good that producers are willing to supply changes as the price of the good changes.
Quota
A government-imposed trade restriction that limits the number or monetary value of goods that can be imported or exported during a particular time frame.
Supply Price
The minimum price at which a producer is willing to sell a good or service, influenced by production costs and market conditions.
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