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Excess Supply
A situation in which the quantity of a good or service supplied is greater than the quantity demanded at a given price, often leading to a surplus.
Price Cheeseburger
The amount of money required to purchase a cheeseburger in a given market or location.
Excess Demand
A situation in a market where the quantity demanded of a good or service surpasses the quantity supplied at the current price.
Quantity Demanded
Quantity demanded is the total amount of a good or service that consumers are willing and able to purchase at a given price in a specified period.
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