Examlex
Why have researchers criticized the contingency model?
Fast Food
A type of mass-produced food designed for commercial resale and with a strong priority placed on "speed of service" versus other relevant factors involved in culinary science.
Price Floor
A government or group-imposed price control or limit on how low a price can be charged for a product.
Equilibrium
A situation in a market where the quantity demanded equals the quantity supplied, leading to a stable price.
Surplus
The excess of a good or service that occurs when the quantity supplied exceeds the quantity demanded; surpluses occur when the price is above the equilibrium price.
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