The term that is defined as the maximum legal price for a good or service is the price ceiling.
Explanation:
A price ceiling happens once the government puts a legal limit on how high the worth of a product may be. so as for a price ceiling to be effective, it should be set below the natural market equilibrium. When a price ceiling is about, a shortage happens. For the worth that the ceiling is about at, there's a lot of demand than at the equilibrium worth. there's additionally less offer than at the stability worth, therefore there's a lot of amounts demanded than the amount provided. Associate degree inability happens, since at the worth ceiling amount equipped the marginal profit exceeds the distinctive cost. This inefficiency is adequate to the deadweight welfare loss.
The Second Industrial Revolution, also known as the Technological Revolution, was a phase of rapid scientific discovery, standardization, mass production, and industrialization from the late 19th century into the early 20th century.
Answer:
inflation
Explanation:
Harsh regulation of markets, goods and labor in an otherwise inflationary environment are cited as the possible cause of stagflation
The 24th <span>Amendment </span>ended poll tax. so voters that didn't have much money could vote now.
