Examlex
Under which of the following circumstances would private saving be positive in a closed economy?
Shortage
A situation in which the demand for a product or service exceeds the supply available at a specific price.
Bushels
A measure of volume used primarily for agricultural commodities, varying in size depending on the product measured.
Supply Curve
A graphical representation showing the relationship between the price of a good and the quantity of the good that suppliers are willing to sell, holding other factors constant.
Demand Curve
A graph showing the relationship between the price of a good and the quantity demanded, typically downward sloping.
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