Examlex
Bureaucratic control uses mechanisms such as price competition and market share.
Price Ceiling
A regulation that sets the maximum allowable price for a particular good or service, intended to prevent sellers from charging high prices during demand spikes.
Government Intervention
Actions taken by government to affect the economy, markets or societal issues, which can include regulations, subsidies, and taxes.
Positive Externalities
These are benefits that a transaction or activity provides to those not involved in the transaction or activity.
Negative Externalities
Costs suffered by a third party as a result of an economic transaction that they were not directly involved in.
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