Examlex
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Excess Demand
A situation where the quantity demanded of a product exceeds the quantity supplied at a given price, often leading to price increases.
Rationing Mechanism
A system or method used to allocate scarce goods, services, or resources among people with competing demands.
Market Economies
Economic systems where decisions on production, investment, and distribution are based on supply and demand, and prices of goods and services are determined in a free price system.
Price
The fund amount deemed necessary, expected, or allocated for a service or good.
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