Examlex
Soil scientists no longer consider climate a relevant factor in determining soil characteristics.
Product Market
A market in which products are sold by firms and bought by households.
Equilibrium
A state in which market supply and demand balance each other, and, as a result, prices become stable.
Supply Curves
Graphical representations showing the relationship between the price of a good or service and the quantity of that good or service that a supplier is willing to offer for sale.
Price Floors
A government- or authority-imposed minimum price that sellers must charge for a good or service, essentially preventing prices from falling below this set level.
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