Indicate Whether This Informal Definition Is by Example, by Synonym

question 226

Short Answer

Indicate whether this informal definition is by example, by synonym, or analytical: "Hit me" means the same as "Give me another card."

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Definitions:

Quantity Supplied

The amount of a good or service that producers are willing to sell at a given price.

Surplus

The situation in which the quantity of goods exceeds the quantity demanded at the current price.

Price Ceiling

A legally established maximum price that can be charged for a good or service, usually set below the equilibrium price to make goods more affordable.

Excess Demand

A situation where the quantity demanded of a good exceeds the quantity supplied at a given price, often leading to upward pressure on prices.