Examlex
Which of the following decisions involves the management function of controlling?
Minimum Wage Law
Minimum Wage Law is legislation that sets the lowest hourly rate that can be paid to workers, aiming to ensure a minimum standard of living for employees.
Price Floor
A government or group-imposed limit on how low a price can be charged for a product, usually above the equilibrium price, to protect producers.
Price Ceiling
A government-imposed limit on how high a price can be charged for a product, service, or commodity, intended to protect consumers from high prices.
Equilibrium
A state in a market where supply equals demand, with the selling price of goods remaining constant as long as other variables remain unchanged.
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