Examlex
When quantity supplied exceeds quantity demanded at the current market price, the market has a surplus, and market price will likely rise in the future to eliminate the surplus.
Sociology
The scientific study of society, social relationships, social interactions, and culture that surrounds everyday life.
Diverse Society
A community characterized by a variety of different cultural, ethnic, racial, and social backgrounds.
Capitalism
An economic system based on private ownership and the free market, characterized by the pursuit of profit.
Lumpenproletariat
A term coined by Marx to describe the class of outcasts in society, such as the unemployed and criminals, who are not involved in industrial production.
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