Examlex
The two riverine societies that shared the most intense diplomatic interaction during the second century BCE were the Nile and the Tigris-Euphrates.
Normal Good
A normal good is a type of good for which demand increases as the income of individuals increases.
Equilibrium Price
The rate at which the product's supply equals its demand in the market.
Equilibrium Quantity
At the prevailing market price, the supply of goods or services is exactly the same as the demand for them.
Excess Demand
A situation where the quantity of a good or service demanded surpasses the quantity supplied at the current price.
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