Examlex
Nominal GDP measures the value of production in current-year prices.
Industry Firms
Companies or businesses that operate within a specific sector of the economy, producing goods or services related to that sector.
Ceiling Price
A maximum legal price set by the government on certain goods or services to prevent prices from rising above a certain level.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a specific price.
Black Market
An illegal trade of goods or services conducted outside the authorization of the official regulatory framework, often to avoid taxes or due to the illicit nature of the goods.
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