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Supply and Demand Curves
Graphical representations that show the relationship between the prices of goods and services and their quantities supplied and demanded in the market.
Pound/Dollar Market
A foreign exchange market where the British pound and the US dollar are traded, indicating the exchange rate between these two currencies.
Exchange Rate
The value of one currency for the purpose of conversion to another, impacting international trade and economics.
Freely Fluctuating Exchange Rates
Exchange rates that are determined by the open market forces of supply and demand without direct government intervention.
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