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If a product increases in price, the buyers would probably buy less because it is more expensive. And for the decrease of a product, the buyers would probably buy more of the product due to its cheapness, but the producers won’t profit as much as they used to.

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Anyone could buy games from stores or online but they all come from the producers of the game. There are many different companies that develop games so there could be many producers.

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People and farmers from all across the world can demand for livestock at a price and the producers are the local farmers who bred them

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A market economy is a system where decisions and the price of goods and services are made based on businesses and citizens interactions or the quantity of consumers and producers.

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Service is a transaction made with no physical goods.

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Materials that satisfy our wants.

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Resources are things one needs to make something.

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This is when we don’t have enough resources to make all our needs and wants.

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Wants are like luxury you want for your own satisfaction.

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Needs is something that’s necessary to survive and live.