Examlex
For which of the following products is social influence likely to have the greatest impact?
Equilibrium Price
The price at which the quantity of a good or service demanded equals the quantity supplied, resulting in market balance.
Surplus
An excess of production or supply over demand, often leading to a decrease in prices.
Shortage
A situation where the demand for a product exceeds the available supply, often leading to higher prices.
Equilibrium
The state in which market supply and demand balance each other, and as a result, prices become stable.
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