Examlex
An economy that has interactions in trade or finance with other economies is referred to as
Market Price
The current price at which a good or service can be bought or sold in a marketplace, determined by the forces of supply and demand.
Units
Basic quantities or measurements, such as liters, meters, or kilograms, used to specify magnitudes of physical quantities.
Supply Curve
A graph showing the relationship between the price of a good and the amount of the good that suppliers are willing to sell, holding other factors constant.
MC Curve
A graphical representation of how the cost to produce one additional unit (marginal cost) changes as production increases.
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