Examlex
Two methods of job evaluation are ranking/paired comparison and classification/grading.
Shortage
An instance where the desire for a good or service outstrips its availability at a given price.
Price Floor
A government or regulatory imposed minimum price set above the equilibrium price, preventing market prices from falling below a certain level.
Price Ceiling
A legally established maximum price that can be charged for a good or service, usually set by the government.
Shortage
An instance where there is more demand for a product or service than what is available in the market.
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