The answer depends on a crucial information that it is not provided, the purchasing power of those potential customers, but it still it is possible to reason how the demand and supply of membership would work.
- Surplus of memberships would take place when in the gym market there is a shortage of demand. This situation occurs when there are less customers willing to purchase the product at 45$ than the number of memberships that are available. To claim if this is the case in the example we would need to know the structure of the demand function in this market.
- Shortage of memberships takes place when in the gym market there is a excess of demand. The price is afforded by a number of customers which exceeds the amount of memberships available. Therefore, some rationing mechanism would be necessary to fix who will get the membership and who will not. Again, it would be necessary to know who the demand function works.
1700s is the begining of modern history
gov·ern·ment
/ˈɡəvər(n)mənt/
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Politics
Grammar
noun
1.
the governing body of a nation, state, or community.
Similar:
administration
executive
regime
authority
powers that be
directorate
council
leadership
management
cabinet
ministry
rule
term of office
incumbency
top brass
2.
GRAMMAR
the relation between a governed and a governing word.
The Americanization movement was a nationwide organized effort in the 1910s to bring millions of recent immigrants into the American cultural system.
