Examlex
Select the word that is spelled correctly.
Price Ceiling
A government-imposed limit on how high a price can be charged on a product or service, intended to protect consumers from market conditions that could make commodities unaffordable.
Equilibrium Price
The price at which the quantity of a good or service supplied is equal to the quantity demanded.
Surplus
An excess amount of something, especially in the context of production and supply exceeding demand in economics, leading to a situation where the quantity supplied is greater than the quantity demanded.
Nonprice Rationing
Methods of allocating goods and services without adjusting prices, often used in times of shortages, such as queuing or allocating based on need.
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