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1. The interaction between supply and demand to determine the market price and corresponding quantity bought and sold. 2. The determination of economic allocations by decentralized, voluntary interactions among those who wish to buy and sell, responding to freely determined market prices.

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Μέρος του λόγου: noun
Συνώνυμο(α):
Blossary:
Κλάδος/Τομέας: Economy
Category: International economics
Company: University of Michigan
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