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Cognitive outcomes generally do not help determine how much trainees use training content on the job.
Equilibrium Price
The price at which the supply of an item equals the demand for it, resulting in no excess supply or demand.
Binding Price Ceiling
A maximum price set by the government below the equilibrium price, leading to shortages as the demand exceeds supply.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a given price level in a given time period.
Quantity Supplied
The total amount of a good or service that producers are willing and able to sell at a given price within a specified time period.
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