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Surplus
The situation in which the quantity supplied of a good exceeds the quantity demanded, often leading to a decrease in prices.
Shortage
A situation where the demand for a product exceeds the supply of that product, often leading to a temporary unavailability.
Excess Demand
A situation where the quantity demanded of a good or service exceeds the quantity supplied at the current price.
Shortage
A situation in a market where the demand for a product exceeds the supply, resulting in a lack of enough goods to satisfy consumer demand.
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