Examlex
Explain why the price of a good tends to rise when there is a shortage of the good.Give a hypothetical numerical example to help support your answer.
Intuitive Judgment
A decision-making process that relies on immediate, gut reactions rather than deliberate, logical analysis.
Ivy League College
A prestigious group of eight private universities in the northeastern United States known for their rigorous academic programs and selective admissions.
Chess Set
A collection of game pieces and a board used for playing chess, a strategic two-player board game.
Black Pieces
In games like chess and checkers, the set of pieces designated by the color black, typically controlled by one of the two players.
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