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Discuss the factors that scientists believe contribute to global warming and the environmental consequences.What types of global political and economic changes would occur under the worst environmental scenario? If global warming is indeed occurring, what steps can the global community take to prevent it or mitigate the impact?
Surplus
A situation where the quantity of a good or service supplied exceeds the quantity demanded at a given price.
Equilibrium Quantity
The amount of products or services available and sought after at the equilibrium price, where the supply meets the demand.
Price Floor
A government or regulatory-imposed minimum price for goods or services, intended to prevent prices from dropping too low.
Shortage
A circumstance in which the market desire for a service or product is greater than the supply.
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