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Micro Economics - Market Supply and Demand

Micro Economics - Market Supply and Demand

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Published by ukabuka

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Published by: ukabuka on Sep 09, 2009
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07/09/2013

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Market Supply andDemand
 
 
What is theLaw of Demand?
The principle that there is aninverse relationship betweenthe price of a good and thequantity buyers are willing to purchase in a defined time period, ceteris paribus
 
 
What does “ceterisparibus” mean?
All else remains the same

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