Examlex
You are flipping through channels on TV when you come upon a French-speaking station.You do not speak French,and you are amazed at how quickly it is spoken.Which of the following factors is most relevant for explaining this reaction?
Market Demand
The total amount of a product or service that all consumers in a market are willing and able to purchase at various prices.
Equilibrium Price
This is the price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, resulting in a state of market balance.
Quantity Discounts
Reductions in price offered by sellers to buyers who purchase large volumes or quantities of a product, incentivizing bulk purchasing.
Competitive Market
A market structure characterized by a large number of buyers and sellers, where no single entity has the power to influence the market prices significantly.
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