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Explain the Sapir-Whorf hypothesis. What is it, how does it work, and what are its implications for language?
Quantity Purchased
The total number of units bought of a particular good or service.
Inferior Good
A type of good for which demand decreases as the income of consumers increases, in contrast to a normal good.
Equilibrium Price
The cost at which the amount of a product or service consumers want to buy matches the amount that manufacturers are willing to sell.
Equilibrium Quantity
The quantity of goods or services that is supplied is exactly equal to the quantity demanded at the equilibrium price.
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