Examlex
Explain the difference between hardware and software.Give examples of both.
Budget Line
A graphical representation of all possible combinations of two goods which can be purchased with a given budget at specific prices.
Equilibrium Position
A situation in which the supply and demand in the market are equal, leading to stable prices.
Quantity of Y
A term indicating the amount or volume of a product or commodity denoted by 'Y', often measured in units or quantities.
Downsloping Demand Curve
Illustrates the inverse relationship between the price of a good or service and the quantity demanded, indicating that demand decreases as price increases.
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