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-Scipio Africanus and the Battle of Zama
Excess Supply
Occurs when the quantity of a good or service supplied is greater than the quantity demanded, often leading to a decrease in price.
Minimum Wage
The lowest legal salary that employers can pay their workers, established by government laws.
Labor Market
A marketplace where wages are determined, and workers are hired and fired.
Consumer Surplus
The difference in the total cost consumers are prepared and financially able to cover for a good or service, against the total cost they actually cover.