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If demand increases and supply simultaneously decreases, equilibrium price will rise.
Absolute Level
A term used to describe the total magnitude of a quantity, not compared or relative to other measurements.
Population
The total number of individuals inhabiting a particular area or country.
Equal Distribution
The concept of distributing resources or wealth evenly across a society or group, aiming for fairness and equity.
Income
The financial gain received by an individual or a business as a return for labor, investment, or the production of goods/services.
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