• ECONOMICS
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  • Why does the demand curve illustrate a negative relationship between the price and quantity demanded?
    Because the higher the price of a good, the lower the quantity demanded.
  • Why does the supply curve illustrate a positive relationship between the price and quantity supplied?
    Because the higher the price, the higher the quantity supplied.
  • Supply is defined as the amount of a ______________ that would be offered for sale at all possible ______________ that could prevail in the market.
    Product / prices
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