Examlex
Which housing option provides the most services?
Price Floor
A government-imposed minimum price that can be charged for goods or services, intended to prevent prices from falling too low.
Price Ceiling
A government-imposed limit on how high a price can be charged for a product or service.
Equilibrium Price
The market price at which the quantity demanded of a good equals the quantity supplied, resulting in no surplus or shortage in the market.
Shortage
This occurs when the demand for a good or service exceeds its supply within a specific market.
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