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What is the product for the following three-step reaction sequence?
Free Market Price
The price of goods or services determined by supply and demand in a free market, without government intervention.
Consumer Behavior
The examination of how individuals, groups, or organizations choose, acquire, consume, and discard products, services, experiences, or concepts to fulfill their needs, and how these actions affect both the consumer and the broader community.
Traditional Market System
An economic system where trade and economic activities are based on customs, history, and time-honored beliefs.
Marginal Utility
A concept in economics that represents the additional satisfaction or utility a consumer gains from consuming one more unit of a good or service.
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