Examlex
In a secured credit, the creditor cannot recover the collateral despite the debtor's defaults on the loan.
Consumer Surplus
The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount they actually pay.
Equilibrium Price
The price at which the quantity of goods supplied equals the quantity of goods demanded, resulting in market stability.
Tax Levied
A compulsory financial charge or a type of fee imposed by a governmental organization upon individuals or entities to fund government spending and various public expenditures.
Deadweight Loss
A reduction in economic productivity that arises when a good or service does not reach or cannot reach its market equilibrium.
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