Examlex
The war in Korea produced calls for the impeachment of President Truman.
Equilibrium Price
The market price at which the quantity of goods supplied is equal to the quantity of goods demanded; it is the price that clears the market.
Surplus
A surplus refers to the amount by which the quantity supplied of a product or service exceeds the quantity demanded, often resulting in a decrease in prices.
Shortage
A market condition where the demand for a good exceeds its supply at a specific price, often leading to price increases.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a given price in a given time period.
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