Examlex
Write short notes on Virtuous and Vicious Circles.
Eliminating The Shortage
Actions or policies aimed at resolving the situation where demand exceeds supply for a good or service, usually by increasing supply or reducing demand to restore market equilibrium.
Surplus Of Product
A situation in which the quantity of a product supplied exceeds the quantity demanded, typically resulting in excess stock.
Equilibrium Level
The condition where the supply and demand in the market are equal, leading to steady prices and quantities.
Demand Curve
A graphical representation that shows the relationship between the price of a good and the quantity demanded by consumers.
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