Examlex
Who famously said, "Power corrupts; absolute power corrupts absolutely"?
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.
Shortage
A condition where the market's demand for a good or service outstrips its supply.
Price System
An economic mechanism wherein prices act as signals for the allocation of resources, influencing both producers and consumers in their decisions.
Buyers
Individuals or organizations that purchase goods or services for personal use, resale, or production of other goods and services.
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