Examlex
Which of the following considerations about utilitarianism is correct?
Supply
The total amount of a good or service available for purchase at any given price.
Surplus
The situation where the quantity of a good or service supplied exceeds the quantity demanded, often causing downward pressure on price.
Shortage
Situation in which the quantity demanded exceeds the quantity supplied.
Extraction Costs
The expenses associated with the removal of raw materials from the earth, such as labor, energy, and equipment costs.
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