Which of the following statements with comments is(are) valid? 
Definitions:
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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