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Summarizing.

Complete the following sentences to summarize the text above:

1. The market provides…

2. Households make up the… side of the market.

3. One of the factors that influence demand is…

4. The laws of supply and demand work most effectively…

5. The quantity demanded changes in response to…

6. The market is in equilibrium when…

Viewpoint:

Give an example when prices for goods were inelastic.