Examlex
An iMac personal computer from Apple can be classified according to all of the following categories except which?
Equilibrium Price
The price at which the quantity of goods supplied is equal to the quantity of goods demanded; also known as market-clearing price.
Equilibrium Quantity
At the market equilibrium price, the amount of goods or services available matches the amount that is demanded.
Inferior Good
An economic term for a good whose demand decreases as the consumer's income increases, contrasting with normal goods.
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