Examlex
Simplify: x7 / x-4 /x3
World Price
The international market price for a given good, influenced by global supply and demand factors.
Imported Oil
Crude or refined petroleum products sourced from foreign countries.
Surplus
The situation in which the quantity of a good or service supplied exceeds the quantity demanded at the current price.
Excess Demand
A market condition where the quantity demanded of a product exceeds the quantity supplied at the current price, leading to upward pressure on prices.
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