Examlex
Match each definition with the correct term.
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Ceiling Price
A ceiling price is a government-imposed limit on how high a price of a good or service can be charged in the market, typically set below the equilibrium price to make goods more affordable.
Competitive Market
A market situation where numerous sellers and buyers exist, and where each has a negligible impact on the market price.
Equilibrium Price
The price at which the quantity of goods supplied is equal to the quantity of goods demanded in a market.
Equilibrium Quantity
At the market equilibrium price, the amount of goods or services that are supplied matches the amount that is demanded.
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