Examlex
Contingency planning is most important in markets where conditions are relatively stable and market growth is predictable.
Surplus
An excess of production or supply over demand, often leading to lower prices or an inventory accumulation.
Price Ceiling
A government-imposed limit on how high a price is charged for a product, aimed at preventing prices from reaching levels deemed too high.
Price Floor
A government or group-imposed price control or limit on how low a price can be charged for a product. It is aimed at preventing prices from being too low.
Shortage
refers to a situation where the demand for a product or service exceeds the supply available at a specific price.
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