Examlex
What is franchising? Explain with examples how it can result in a highly profitable business.
Price Floor
A government- or authority-imposed minimum price below which a certain product cannot be sold, typically above the equilibrium price to ensure producers receive a minimum income.
Government
The organizational structure through which a society makes and enforces its public policies and exercises authority over its citizens.
Pencils
Writing or drawing instruments with a thin core of graphite or a similar substance encased in a protective casing.
Nonprice Rationing
Allocating goods or services using means other than prices, such as waiting times or ration coupons, often used when there is a shortage or when market prices are not effective.
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