Examlex
Clients with a background of Spanish language and customs:
Price Floors
Legally established minimum prices for goods or services, intended to ensure they cannot be sold below a certain price.
Inefficiently Low Quality
A situation where a product or service is produced with a quality level that is not optimal for consumer satisfaction or cost efficiency.
Wasted Resources
Resources that are not utilized in an efficient manner, often leading to economic inefficiency or loss.
Price Floor
A government-imposed minimum price that can be charged for a good or service, designed to protect producers by ensuring that market prices do not fall below a certain level.
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