Examlex
The unemployment that results from the quantity of labor supplied exceeding the quantity demanded is called structural unemployment.
Demand Curve
A visual chart that illustrates how the demand for a product or service, as indicated by the quantity consumers are willing to purchase, varies with price changes over a specific timeframe.
Life Threatening Disease
A severe health condition that has a high probability of causing death.
Supply Curve
A graphical representation showing the relationship between the price of a good and the quantity of the good supplied.
Opportunity Cost
The relinquishment of possible gains that could have been obtained from alternatives when one is selected.
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