Examlex
What is arbitrage and how does it impact the exchange rate across foreign exchange markets?
Price Ceiling
A legal maximum price set below the equilibrium price, preventing sellers from charging more than this amount.
Price Floor
A government-imposed minimum price set above the equilibrium price, preventing market prices from falling below a certain level.
Shortage
The occurrence of demand for a certain product or service outpacing the supply in the marketplace.
Surplus
The amount of an asset or resource that exceeds the portion that is actively utilized; in economic context, it often refers to excess production or budgetary surplus.
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