Examlex
Which of the following is a basic principle of proportional representation?
Shortage
A situation where the demand for a product or service exceeds the available supply at a particular price.
Supply Curve
A graphical representation showing the relationship between the price of a good or service and the quantity of it that suppliers are willing to provide at that price.
Ticket Scalpers
Individuals who purchase tickets to events at face value and then sell them at a higher price, typically without authorization, aiming to profit from the high demand.
Consumers
Individuals or entities that purchase goods or services for personal use rather than for manufacturing or resale.
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