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20 relations: Agriculture, Butter mountain, Consumer, David R. Henderson, Deadweight loss, Economic equilibrium, Economic surplus, Europe, Free market, General equilibrium theory, Intervention prices, Labour economics, Liberty Fund, McGraw-Hill Education, Minimum wage, Price ceiling, Price controls, Resale price maintenance, Supply and demand, Unemployment.
Agriculture
Agriculture is the cultivation of land and breeding of animals and plants to provide food, fiber, medicinal plants and other products to sustain and enhance life.
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Butter mountain
The Butter mountain refers to the supply surplus of butter produced in the European Economic Community due to government interventionism, beginning in the 1970s.
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Consumer
A consumer is a person or organization that use economic services or commodities.
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David R. Henderson
David R. Henderson (born November 21, 1950) is a Canadian-born American economist and author who moved to the United States in 1972 and became a U.S. citizen in 1986, serving on President Ronald Reagan’s Council of Economic Advisers from 1982 to 1984.
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Deadweight loss
A deadweight loss, also known as excess burden or allocative inefficiency, is a loss of economic efficiency that can occur when equilibrium for a good or a service is not achieved.
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Economic equilibrium
In economics, economic equilibrium is a state where economic forces such as supply and demand are balanced and in the absence of external influences the (equilibrium) values of economic variables will not change.
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Economic surplus
In mainstream economics, economic surplus, also known as total welfare or Marshallian surplus (after Alfred Marshall), refers to two related quantities.
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Europe
Europe is a continent located entirely in the Northern Hemisphere and mostly in the Eastern Hemisphere.
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Free market
In economics, a free market is an idealized system in which the prices for goods and services are determined by the open market and consumers, in which the laws and forces of supply and demand are free from any intervention by a government, price-setting monopoly, or other authority.
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General equilibrium theory
In economics, general equilibrium theory attempts to explain the behavior of supply, demand, and prices in a whole economy with several or many interacting markets, by seeking to prove that the interaction of demand and supply will result in an overall general equilibrium.
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Intervention prices
In agricultural policy, the intervention price is the price at which national intervention agencies in the EU are obliged to purchase any amount of a commodity offered to them regardless of the level of market prices (assuming that these commodities meet designated specifications and quality standards).
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Labour economics
Labour economics seeks to understand the functioning and dynamics of the markets for wage labour.
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Liberty Fund
Liberty Fund, Inc. is a nonprofit foundation headquartered in Indianapolis, Indiana which promulgates the libertarian views of its founder, Pierre F. Goodrich through publishing, conferences, and educational resources.
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McGraw-Hill Education
McGraw-Hill Education (MHE) is a learning science company and one of the "big three" educational publishers that provides customized educational content, software, and services for pre-K through postgraduate education.
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Minimum wage
A minimum wage is the lowest remuneration that employers can legally pay their workers.
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Price ceiling
A price ceiling is a government-imposed price control, or limit, on how high a price is charged for a product.
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Price controls
Price controls are governmental restrictions on the prices that can be charged for goods and services in a market.
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Resale price maintenance
Resale price maintenance (RPM) (US) or retail price maintenance (UK) is the practice whereby a manufacturer and its distributors agree that the distributors will sell the manufacturer's product at certain prices (resale price maintenance), at or above a price floor (minimum resale price maintenance) or at or below a price ceiling (maximum resale price maintenance).
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Supply and demand
In microeconomics, supply and demand is an economic model of price determination in a market.
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Unemployment
Unemployment is the situation of actively looking for employment but not being currently employed.
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