Examlex
April spots the boy that she has a crush on sitting with his friends. Her heart begins to pound, her hands get sweaty, and her cheeks feel hot. April's _______________ has been activated.
Supply
The complete quantity of a product or service that can be bought at a particular price point.
Price Floor
A legally established minimum price for a good, or service. Normally set at a price above the equilibrium price.
Competitive Market
A market structure characterized by a large number of buyers and sellers, free entry and exit, and a high level of competition.
Persistent Shortages
An economic condition where the demand for a good or service consistently exceeds its supply, often due to factors like price controls, causing prolonged scarcity.
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