In the ____________________ of a Claim Message, You Should Explain

question 21

Short Answer

In the ____________________ of a claim message, you should explain the problem and justify your request.

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Definitions:

Shortage/Surplus

An economic condition where the quantity demanded is greater than (shortage) or less than (surplus) the quantity supplied at the market price.

Demand Equation

A mathematical representation of the relationship between the quantity of a good demanded and its price.

Supply Equation

A mathematical formula that represents the relationship between the quantity of a good supplied and its price.

Price Ceiling

A maximum price set by the government for particular goods and services that cannot legally be charged above to prevent prices from being too high.