Examlex
Is it easy to "catch up" if one does not start saving until later in life? Explain your answer.
Price Ceiling
A legal maximum price set by the government for a particular good or service, intended to prevent prices from becoming excessively high.
Shortage
A situation where the demand for a product exceeds its supply in a market.
Units
The fundamental quantities or measurements in which variables, goods, services, or products are expressed or quantified.
Price Floor
A legally imposed minimum price set above the equilibrium price, preventing the market price from falling below a certain level.
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