Examlex
Which of the following is NOT a characteristic of the capitalist form of economic organization?
Supply Equation
A mathematical expression that represents the relationship between the quantity of a good that producers are willing to sell and factors that affect this quantity like the price of the good.
Shortage/Surplus
A market condition where the quantity demanded is greater/smaller than the quantity supplied, leading to a scarcity/excess of goods.
Price Ceiling
A legally imposed maximum price on goods or services, preventing prices from rising above a certain level.
Shortage/Surplus
A situation where the quantity of a good demanded exceeds the quantity supplied (shortage) or the quantity supplied exceeds the quantity demanded (surplus).
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