Examlex
Suppose price is measured along the vertical axis on a graph.When price changes,there will be a
Shortages
Occurrences when the demand for a product or service exceeds its supply in a market, often leading to higher prices and unmet consumer needs.
Equilibrium Price
The market price at which the quantity of a good supplied equals the quantity demanded, leading to a stable market situation.
Government Intervention
Actions taken by a government to affect the economy, which can include regulations, subsidies, tariffs, and more.
Equilibrium Price
The price at which the quantity of a good or service demanded equals the quantity supplied, resulting in no shortage or surplus.
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