Examlex
A natural resource is an asset that comes from the earth and is consumed.
Market Demand
The total quantity of a good or service that all consumers in a market are willing and able to purchase at various prices.
Market Supply
The total quantity of a good or service available for purchase at any given price level in a given market.
Price Floor
A government or regulatory-imposed minimum price set above the equilibrium price, preventing the market price from falling below it.
Total Welfare
The total economic well-being that a society achieves, including both consumer surplus and producer surplus.
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