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The Set of Processes by Which People Initiate,alter,and Control Their

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The set of processes by which people initiate,alter,and control their behavior in the pursuit of their goals is called


Definitions:

Market Demand Curve

A graph that shows the relationship between the price of a good and the quantity of that good all consumers are willing to purchase at each price level.

Consumption

The act of using goods and services for personal needs or wants.

Demand Curve

A graphical representation showing the relationship between the price of a good and the amount of it that consumers are willing to purchase at various prices.

Quantity Demanded

The total amount of a good or service consumers are willing and able to purchase at a given price in a specified period.

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