Examlex
On which tab is the insert background feature located?
Surplus
A situation where the quantity of a product supplied exceeds the quantity demanded, often resulting in a decrease in prices.
Shortage
A shortage occurs when the demand for a product exceeds the supply of that product at a specific price.
Price Floor
A government-imposed minimum price charged for a commodity, aimed at preventing prices from falling too low.
Surplus
In economic terms, it refers to the amount by which production, assets, or resources exceed the portion used, often leading to excess supply in markets.
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