Examlex
Volunteering at a local university for a sports team and explore future opportunities is a best practice for sports and social media. What best practice does this fall under?
Price Ceiling
A government-imposed limit on how high a price can be charged for a product or service, intended to protect consumers.
Price Floor
A minimum price set by the government for certain goods and services, intended to ensure fair conditions for producers.
Shortage
A situation where demand exceeds supply, often leading to rising prices and unmet consumer needs.
Surplus
An excess of income or assets over expenditure or liabilities in a given period, often referring to profit or the amount of goods produced over what is needed.
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