Examlex
How does political competence compare with political efficacy?
Shortage
A situation where the demand for a product exceeds its supply at a specific price.
Quota Rent
The economic rent a producer earns from the difference between the market price of a good and its supply price due to a quota limit.
Equilibrium Price
The price at which the quantity of goods supplied is equal to the quantity of goods demanded.
Quota Price
The cost associated with acquiring a quota, which is a government-imposed limit on the quantity of a good that can be imported or exported.
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