Examlex
Define and provide examples of prejudice, stereotypes, and discrimination.
Market Equilibrium
A point in a market where the quantity of goods supplied is equal to the quantity of goods demanded.
Consumer Surplus
The gap between what consumers are ready and able to expend for a good or service and what they actually spend.
Price Ceiling
A legally imposed limit on the price that can be charged for a good or service, typically set below the equilibrium price.
Excess Demand
A situation where the quantity demanded of a good or service exceeds the quantity supplied at a particular price, often leading to upward pressure on prices.
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