Examlex
For which of the following reasons did the Office of Juvenile Justice and Delinquency Prevention in the late 1980s initiate an intensive community-based juvenile aftercare project called the Intensive Aftercare Program (IAP) ?
Consumer Surplus
The difference between the total amount consumers are willing and able to pay for a good or service and the total amount they actually pay.
Equilibrium
A state in which market supply and demand balance each other, and as a result, prices become stable.
Market
A venue or mechanism where buyers and sellers come together to exchange goods, services, or information.
Price
The amount of money required to purchase a good or service, determined by factors such as demand, supply, and production costs.
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