Examlex
Paul was in Rome for two years before he went to trial. How did the author characterize this time?
Law of Supply
The economic principle stating that as the price of a good increases, the quantity supplied of the good also increases, ceteris paribus.
Law of Demand
An economic principle stating that as the price of a good or service decreases, the quantity demanded increases, and vice versa, holding other factors constant.
Effective Price Floor
A government-imposed limit below which prices cannot legally fall, set above the equilibrium price, leading to potential surplus or excess supply.
Industry Firms
Companies or businesses that operate within a specific sector of the economy, producing goods or services related to that sector.
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