Examlex
Suppose members of a tribe practised the custom of marrying one person at a time.What is the term for this kind of marriage?
Not Binding
A term used to describe a situation where a constraint or limit (such as a price ceiling or floor) does not affect the equilibrium outcome of the market.
Equilibrium Price
The market price where the quantity of goods supplied equals the quantity of goods demanded.
Quantity Demanded
The aggregate quantity of a product or service that buyers are prepared and able to buy at a specific price.
Equilibrium Price
The price point at which the demand for a product matches the supply of the product, ensuring market stability.
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