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Market Equilibrium
A state in which market supply and demand balance each other, and, as a result, prices become stable.
Competitive Industry
A sector characterized by many participants striving to offer better products or services than their rivals.
Market Demand
The total quantity of a good or service that all consumers in a market are willing and able to purchase at various prices.
Market Equilibrium
A situation in a market where the quantity of a good or service supplied matches the quantity demanded, leading to a stable price.
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