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Even When Two People Speak the Same Language,there Can Be

question 74

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Even when two people speak the same language,there can be mangled meaning because


Definitions:

Quantity Demanded

The cumulative total of a good or service that customers intend and can afford to buy at a set price level.

Quantity Supplied

The total amount of a product that producers are willing and able to sell at a given price in a given time period.

Surplus

An economic situation where the quantity of goods supplied is greater than the quantity demanded.

Shortage

A situation in an economy where the demand for a product or service exceeds the supply available at a specific price.

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