Examlex
To meet the conflicting demands of efficiency and customization, organizations need to:
Quantity Demanded
The amount of a product that buyers are willing and able to purchase at a given price.
Excess Supply
The situation where the quantity of a good or service supplied exceeds the quantity demanded at the current price.
Price
is the amount of money required to purchase a good or service, serving as the exchange rate between money and the good or service.
Quantity Supplied
Quantity Supplied refers to the amount of a good or service that producers are willing and able to sell at a given price.
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