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What sequence of reactions is required for the following transformation?
Grain Surplus
An excess amount of grain production over the demand, leading to stored or wasted grain.
Market Economy
An economic system where decisions regarding investment, production, and distribution are based on supply and demand, and prices of goods and services are determined in a free price system.
Price Floor
A government-set minimum price that can be charged for goods and services, aimed at protecting producers.
Equilibrium Price
The price at which the quantity of goods supplied matches the quantity of goods demanded.
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