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Clients who receive special benefits from sellers due to their status, volume of purchase, or long-standing relationship.
Excess Demand
Occurs when the quantity demanded of a good or service exceeds the quantity supplied at a given price, leading to shortages.
Nonprice Rationing
Distribution or allocation of goods and services based on criteria other than price, often used when there is a shortage.
Excess Demand
A situation in which the quantity demanded of a good or service exceeds the quantity supplied at a given price.
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