Examlex
To create a column chart, the data is highlighted and the Column option in the Charts section of the Insert tab is selected.
Excess Demand
A market condition in which the quantity demanded of a product exceeds the quantity supplied at a given price.
Nonprice Ration
Distributing or allocating goods based on criteria other than price, such as need or merit.
Short Run
A period in which at least one input (such as plant size) is fixed, and only the variable inputs can be adjusted.
Price System
An economic mechanism that uses prices arising from supply and demand interactions to communicate information to help guide the allocation of resources.
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