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Surplus
A situation in which the quantity of a good or service supplied exceeds the quantity demanded, often leading to a decrease in price.
Ration
The controlled distribution of scarce resources, goods, or services.
Equilibrium Price
Equilibrium price is the market price at which the quantity of goods supplied is equal to the quantity of goods demanded.
Surplus
Occurs when the quantity supplied of a product exceeds the quantity demanded at a given price, often leading to price reductions.
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