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A benefit is a perceived favorable result that is derived from the presence of a particular feature.
Supply Curve
A visual depiction that illustrates the connection between a product's price and the amount available for supply.
Demand Curve
A graphical representation showing the relationship between the price of a good and the quantity of that good consumers are willing to purchase at different prices.
Equilibrium
A state in a market where supply equals demand, and there is no external pressure for the situation to change, resulting in a stable market condition.
Supply and Demand
The basic economic principle describing the interplay between the availability of a good or service (supply) and the desire for that good or service (demand).
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