The operating system shown in the accompanying figure is ____.
Definitions:
Government-mandated Increase
A requirement imposed by the government that results in a rise, often relating to wages, prices, or taxes.
Demand and Supply Curves
Graphs used in economics to illustrate the relationship between how much of a good or service is desired by buyers (demand) and how much is available from suppliers (supply) at various prices.
Product Market
A market in which products are sold by firms and bought by households.
Equilibrium
A state in which market supply and demand balance each other, and, as a result, prices become stable.
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