Examlex
Which of the following is not regulated by the FDA as water?
Surplus
The situation in which the quantity of a good or service supplied exceeds the quantity demanded at the current price; often occurs in markets where a price ceiling prevents the price from rising to its equilibrium level.
Market Price
The current price at which an asset or service can be bought or sold, determined by supply and demand.
Black Market
An illegal trading environment where goods or services are exchanged outside of government-sanctioned channels.
Price Controls
Government-imposed limits on the prices charged for goods and services, typically to control inflation or to ensure affordability.
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