Examlex
Which of the following is a formal pledge (an IOU) obligating the issuer to pay interest periodically and repay the principal at maturity (a preset future date) to the lender?
Law of Demand
An economic principle stating that as the price of a good or service decreases, the quantity demanded increases, and vice versa, holding other factors constant.
Effective Price Floor
A government-imposed limit below which prices cannot legally fall, set above the equilibrium price, leading to potential surplus or excess supply.
Industry Firms
Companies or businesses that operate within a specific sector of the economy, producing goods or services related to that sector.
Ceiling Price
A maximum legal price set by the government on certain goods or services to prevent prices from rising above a certain level.
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