Future of Business
The Higher the Price of a Good or Service, the Greater
The higher the price of a good or service, the greater the amount a producer is willing to supply.
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At the equilibrium point, quantity demanded equals quantity supplied.
The total market value of all final goods and services produced within a country's borders each year is referred to as gross domestic product (GDP).
It takes four consecutive quarters of decline in the GDP for economists to consider the economy to be in a recession.
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