Examlex
Chartrand and Bargh (1999) found that participants in an experiment who were asked to work alongside another person who occasionally rubbed her face were unwittingly more likely to rub their face.They called this
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a specific price, at a given moment.
Price Floors
Minimum legally allowed prices set above the equilibrium price, typically imposed by the government to ensure producers receive a fair wage.
Equilibrium Price
The cost at which the amount of a product consumers want to buy matches the amount producers are willing to sell, leading to a balanced market situation.
Price Ceilings
A government-imposed limit on how high a price is charged for a product.
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