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What are the two effects that explain the Law of Demand? Briefly explain each effect.
Expected Shortage
Expected shortage refers to the anticipated shortfall in inventory due to higher demand than the supply available.
Inventory Stock
The quantity of goods or materials a business holds for the purpose of resale or production.
Product Availability
The state of a product being in stock and accessible for purchase by consumers.
Customer Order
A request made by a customer to purchase goods or services from a business.
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