Examlex
Some of the lawmakers are more concerned with the costs of jails than they are prisons.They make the argument that almost 13 million people are admitted to jails over the course of a year nationwide.Other lawmakers claim that jails are different than prisons and should not be their concern at this time.How are jails different than prisons?
Equilibrium Price
The price at which the quantity of a good or service supplied is equal to the quantity demanded.
Surplus
An excess amount of something, especially in the context of production and supply exceeding demand in economics, leading to a situation where the quantity supplied is greater than the quantity demanded.
Nonprice Rationing
Methods of allocating goods and services without adjusting prices, often used in times of shortages, such as queuing or allocating based on need.
Queuing
The process or system by which people or items are arranged in a line awaiting their turn to be attended to or processed.
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