Examlex
Which of the following should you do first?
Price Floor
A government or group-imposed price control or limit on how low a price can be charged for a product, aiming to protect producers.
Price Ceiling
A legally established maximum price that can be charged for a good or service, often set below the equilibrium price to keep essential goods affordable.
Surplus
An excess of something, especially a quantity of a commodity or financial instrument that exceeds what is needed or used.
Equilibrium Price
The price at which the quantity of a good demanded equals the quantity supplied, leading to market balance.
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