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To address the labor shortage during World War II, the Japanese government
Price Ceilings
Government-imposed limits on how high prices for essential goods or services can be, intended to protect consumers from price gouging during shortages or crises.
Quantity Supplied
The amount of a product that producers are willing and able to sell at a particular price over a given period of time.
Quantity Demanded
The complete volume of a merchandise or service buyers intend to acquire at a determined price.
Equilibrium Price
The price at which the quantity of a good or service supplied matches the quantity demanded, leading to market stability.
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