Examlex
A manipulative, callous individual with no apparent conscience might be diagnosed with _____ personality disorder.
Binding Price Floor
A minimum price set by the government above the equilibrium price, causing a surplus by preventing the market price from falling to its equilibrium level.
Excess Supply
A situation where the quantity of a good or service supplied is greater than the quantity demanded at a given price.
Equilibrium
A state where supply equals demand, allowing the market for a good or service to stabilize at a certain price and quantity.
Price Elasticity of Demand
A measure that calculates the responsiveness, or elasticity, of the quantity demanded of a good to a change in its price.
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