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Market Demand Curve
A graph showing the relationship between the price of a good and the total quantity demanded by all consumers in the market at each price level.
Elastic Demand
A situation in which the demand for a product is sensitive to price changes, meaning the quantity demanded significantly increases or decreases as the price decreases or increases.
Copper Electrical Wire
A type of wire made from copper used for conducting electricity, known for its high conductivity and flexibility.
International Copper Cartel
An agreement among some of the world's major copper-exporting countries to limit supply in order to maintain or increase copper prices.
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