Examlex
When retraining workers, it is most important to address:
Quantity Supplied
the amount of a good or service that producers are willing and able to sell at a given price over a specific period.
Quantity Demanded
The aggregate sum of a product or service that buyers are prepared to buy at a determined price point, at a certain moment.
Surplus
The situation in which the quantity of goods produced exceeds the quantity demanded, often leading to a drop in prices.
Supply Increases
Refers to a situation where the quantity of a good or service that producers are willing and able to sell at a given price level rises, often leading to a decrease in prices if demand remains constant.
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