Examlex
"If a response is followed by a pleasurable consequence, it will tend to be repeated. If a response is followed by an unpleasant consequence, it will tend not to be repeated." This is a statement of ________________.
Supply Decrease
A reduction in the quantity of a good or service that producers are willing and able to offer at any given price.
Demand Decrease
A situation where there is a reduction in the quantity of a good or service that consumers are willing and able to purchase at any given price.
Equilibrium
A condition or state in which economic forces are balanced, such as the point where supply equals demand.
Market Clear
A situation in which the market reaches a state where quantity supplied equals quantity demanded, leaving no surplus or shortage.
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