Examlex
Within the visible light spectrum, shorter wavelengths are perceived as_________, whereas longer wavelengths are perceived as _________.
Shortage
A situation where the demand for a good or service exceeds its supply in a market.
Quantity Demanded
The amount of a product that consumers are willing to buy at a specific price point, at a given time.
Equilibrium Price
The market price at which the quantity of a good demanded by consumers equals the quantity supplied by producers, leading to a stable market condition.
Supply Falls
A situation where the quantity of goods or services available decreases in relation to demand.
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