Examlex
At a price below the equilibrium price, there is
Equilibrium Price
The price at which the quantity of a good or service demanded equals the quantity supplied, resulting in market balance.
Surplus
A situation where the quantity of a product or service supplied exceeds the quantity demanded at the current price.
Maximum Price
A price ceiling set by the government or another regulatory body, beyond which prices cannot legally rise for essential goods or services.
Economic Impact
The effect of an event, policy, or market change on the economy, which can be measured in terms of changes in employment, GDP, or other economic indicators.
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