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Identify/define and explain the significance of the following: iconoclasm.
Demand
Demand is an economic principle referring to a consumer's desire and willingness to pay a price for a specific good or service.
Supply
The total amount of a specific good or service that is available to consumers, often influenced by the price as well as other factors.
Equilibrium Price
The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers.
Milk
A nutritious white liquid food produced by the mammary glands of mammals, used as a primary source of nourishment for young mammals before they are able to digest other types of food.
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