Examlex
Zimbardo's Stanford County Prison experiment found that
Market Imbalances
Situations where the quantity supplied of a good does not equal the quantity demanded, leading to surpluses or shortages.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a given price.
Market Equilibrium
The state in economics where the supply of goods matches demand, leading to stable prices.
Price Floor
A minimum price set by the government or a regulatory body, below which a good or service cannot legally be sold.
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