Examlex
Compare and contrast tyranny,oligarchy,and democracy.
Shortage/Surplus
A market condition where the quantity demanded exceeds the quantity supplied (shortage) or where the quantity supplied exceeds the quantity demanded (surplus).
Price Floor
A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product, often above the equilibrium price.
Shortage/Surplus
Economic conditions where the quantity of a good demanded exceeds its supply (shortage) or where supply exceeds demand (surplus).
Chain Of Command
The linking of all employees with successively higher levels of authority.
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