Examlex
Describe how pluralistic ignorance impacts altruism and explain why seeing other people's facial expressions can reduce the effects of pluralistic ignorance.
Shortage
A scenario in which the market's need for a service or product surpasses its availability.
Surplus
An excess of production or supply over demand, often leading to lower prices or an inventory accumulation.
Price Ceiling
A government-imposed limit on how high a price is charged for a product, aimed at preventing prices from reaching levels deemed too high.
Price Floor
A government or group-imposed price control or limit on how low a price can be charged for a product. It is aimed at preventing prices from being too low.
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