Examlex
What is a yellow dog contract? What is its legal status?
Quantity Demanded
The amount of a good or service that buyers are willing and able to purchase at a specific price, holding all other factors constant.
Supply Pizza
Represents the total quantities of pizza that sellers are willing and able to provide at various prices within a given market.
Excess Supply
Excess supply, also known as surplus, occurs when the quantity of a good or service offered for sale exceeds the quantity demanded at the current price.
Market Equilibrium
The condition in which the quantity of a good supplied is equal to the quantity demanded, resulting in no economic pressure to change the price or quantity.
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