Examlex
Field data are the product of long discussions between researcher and informant in which both try to figure out a world that they share. In a word, they are
Equilibrium Price
The cost factor at which the supply side and demand side of goods reach an equilibrium in the market.
Market Surplus
A situation where the quantity of a good or service supplied exceeds the quantity demanded at the current price, often leading to price reductions.
Binding Price Floor
A government-imposed price control that sets a minimum price for a good or service, above the equilibrium price, causing a surplus.
Price Paid
The amount of money exchanged for a product or service at the time of purchase.
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