Examlex
A minimum wage is an example of a
Price Discrimination
Price discrimination is the strategy of selling the same product at different prices to different groups of consumers, often based on their willingness to pay, location, or purchase volume.
Disguised Subsidy
Financial support given to industries or businesses in indirect ways, not easily identifiable as traditional subsidies, to lower their costs or increase their competitiveness.
Consumer Surplus
The gap between the total sum consumers are prepared and financially able to spend on a good or service and the sum they actually spend.
Legal
Pertaining to or conforming to the laws of a country or the legality of a situation or activity.
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