Economic Glossary | Shortage | Bankers Algo
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Economic Glossary

    Shortage

A condition in the market in which the quantity demanded is greater than the quantity supplied at the existing price. A shortage occasionally goes by the terms excess demand and sellers' market. A shortage causes an increase in the equilibrium price.


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Banker's Algo Daily Dose

Word of the day

Decrees(n)

Meaning:

A formal and authoritative order, especially one having the force of law

Synonyms: act, announcement, behest, bidding, charge

Antonyms: dismiss, fire, refuse, reject

Apti Question of The day

Question

Milk contains 5% water. What quality of pure milk should be added 10 litres of milk to reduce this 2%?

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