Examlex
What do you think the labour movement or the women's movement will look like in 2050? Why do you hold these opinions?
Industry Supply Curve
A graphical representation that shows the quantity of goods that all producers in an industry are willing and able to supply at different price levels.
Upward Slope
A line on a graph that displays a positive relationship between two variables, indicating that as one variable increases, the other variable also increases.
Price Takers
Businesses or individuals that accept the prevailing prices in the market because they do not have enough power to influence them.
Competitive Market
A market structure characterized by many buyers and sellers, free entry and exit, and products that are similar enough to be considered substitutes.
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