Examlex
The process of planet formation in the early solar system is best described by which of the following terms?
Price Floor
A government-imposed limit on how low a price can be charged, usually above the equilibrium price, which can prevent the market from clearing.
Price Ceiling
A government-imposed limit on how high a price can be charged for a product, service, or resource, usually intended to protect consumers from prices deemed excessively high.
External Benefits
Benefits derived from a product or service that affect parties who did not choose to incur that benefit.
Efficient Level
The optimal point of operation where resources are used in such a way that maximizes productivity and minimizes waste.
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