Examlex
A child understands that if an elephant is bigger than a bear and a bear is bigger than a cat, then an elephant is bigger than a cat. This demonstrates the child's understanding of _________.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a given price in a specified time period.
Quantity Supplied
The amount of a good or service that producers are willing and able to sell at a given price in a specified period.
Increase in Demand
A situation where there is a rise in the quantity of a product or service that consumers are willing and able to buy at given prices.
Demand Curve
A graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers over a certain period.
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