Examlex
By 1850, all of the following countries were close to Britain in industrial output EXCEPT
Market Price
The ongoing rate at which an asset or service is being offered for buying or selling.
Shortage
An instance where the desire for a good or service outstrips its availability at a given price.
Price Floor
A government or regulatory imposed minimum price set above the equilibrium price, preventing market prices from falling below a certain level.
Price Ceiling
A legally established maximum price that can be charged for a good or service, usually set by the government.
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