Examlex
Which of the following is NOT true statements regarding sterilization pouches?
Price Ceiling
A government-imposed limit on how high a price can be charged on a product or service, intended to protect consumers.
Market Price
The amount of money a buyer is willing to pay and a seller is willing to accept for a good or service in a competitive market.
Shortage
A market condition in which the demand for a product or service exceeds its supply, often leading to higher prices.
Binding Price Ceiling
A government-imposed price limit on goods or services that is set below the market equilibrium price, leading to shortages.
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