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Economics
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Brian Tessler AP Economics Teacher August 30, 2012 Words to Know: Supply: Supply is the amount of a good or service available at any particular price. The actual amount supplied will be determined, ultimately, by what the market price is, which depends on the amount demanded as well as what suppliers are willing to produce. Demand: Demand is the amount of a good or service that people are both willing and able to buy. With all other factors held constant, the price of a good or service increases as its demand increases and vice versa.?

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