Examlex
Explain how 3-D printers could change the world of mass production.
Shortage/Surplus
A state in the market where the demand for goods exceeds the supply, leading to a shortage, or where the supply surpasses demand, resulting in a surplus.
Price Floor
A government- or group-imposed limit on how low a price can be charged for a product, intended to prevent prices from dropping too low.
Shortage/Surplus
A market condition: shortage occurs when demand exceeds supply, and surplus happens when supply exceeds demand.
Price Ceiling
A government-imposed limit on how high a price can be charged for a product, service, or resource.
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