Examlex
Explain how both sales and long lines prior to store openings are characteristic of markets in disequilibrium.
Consumer Surplus
The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.
Import Quota
A government-imposed limit on the quantity or monetary value of a certain good that can be imported into the country.
World Price
The international market price of a good or service, determined through the global supply and demand.
Tariff Revenue
Income generated by the government from taxes imposed on imported goods, used as a tool for economic policy.
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