Examlex
Which of the following is NOT a bound control?
Price Controls
Price controls are government-imposed limits on the prices charged for goods and services, aimed to protect consumers by preventing prices from reaching levels deemed too high or too low.
Economic Efficiency
A situation in which all resources are optimally allocated to serve each individual or entity in the best way while minimizing waste and inefficiency.
Equilibrium Price
The market condition price point where supply and demand for a product or service balance each other, leading to no inherent tendency for change.
Price Floors
Legally established minimum prices for goods or services, intended to ensure they cannot be sold below a certain price.
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