The Recent Rash of Business Scandals and Increased Concerns About

question 22

Short Answer

The recent rash of business scandals and increased concerns about the environment have created fresh interest in the issues of ________ and ________.

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Definitions:

Surplus

The amount of an asset or resource that exceeds the portion used. In economics, it refers to a situation where supply exceeds demand.

Shortage

A situation in which demand for a good or service exceeds the available supply at the current price.

Market Equilibrium

Market equilibrium is the point where the supply of goods matches demand, leading to a stable market price.

Equilibrium Price

The rate at which the supply of a commodity or service aligns with its demand in the market.