Examlex
Most federal employees are hired on the basis of
Shortage
A scenario where the market demand for a service or product surpasses its available supply.
Surplus
An amount of something left over when requirements have been met; an excess of production or supply.
Price Ceiling
A maximum legal price that can be charged for a good or service, aimed at preventing prices from becoming too high.
Equilibrium Price
The market price at which the quantity of a good demanded equals the quantity supplied, leading to no excess supply or shortage.
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