Examlex
During the Iteration Planning Game's exploration phase:
Excess Demand
A situation where the quantity demanded of a product or service exceeds the quantity supplied at a given price.
Quantity Demanded
The amount of a good or service that buyers are willing and able to purchase at a specific price, holding all other factors constant.
Supply Pizza
Represents the total quantities of pizza that sellers are willing and able to provide at various prices within a given market.
Excess Supply
Excess supply, also known as surplus, occurs when the quantity of a good or service offered for sale exceeds the quantity demanded at the current price.
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