Questions

A price floor is the minimum price that can be charged. A binding price floor occurs when the government sets a required price on goods at a price above equilibrium. Because the government requires that prices not drop below this price, that price binds the market for that good.

A binding price ceiling is one that is set below equilibrium price.

The disease that has been eradicated from the world is small pox. Smallpox was an infectious disease caused by one of two virus variants, Variola major and Variola minor. The last naturally occurring case was diagnosed in October 1977 and the World Health Organization (WHO) certified the global eradication of the disease in 1980.

In federal and state government, the legislative branch's primary function is to make laws.