Examlex
Competency modeling is strategically used to __________.
Equilibrium Price
The price point in the market at which the supply of goods matches the demand for those goods.
Price Floor
A government-set minimum price for goods or services, above the market equilibrium price, aimed at preventing prices from falling too low.
Price Controls
Government-imposed limits on prices charged for goods and services to manage economy.
Deadweight Loss
A reduction in economic effectiveness that happens when a good or service does not reach or cannot reach its equilibrium.
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