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What is the term for the minimum price allowed by law?
Price floor
A maximum price allowed by law is called?
Price ceiling
What is the minimum salary allowed by law?
minimum wage
An effective minimum wage can lead to?
the law of supply states that price and quantity supplied are
If the law forbids the sale of something above a certain price that price is called the?
Price ceiling
What is the law of minimum?
Liebig's law of the minimum, often simply called Liebig's law or the law of the minimum, is a principle developed in agricultural science by Carl Sprengel (1828) and later popularized by Justus von Liebig. It states that growth is controlled not by the total amount of resources available, but by the scarcest resource.
What is Liebig's law of the minimum?
Liebig's law of the minimum, often simply called Liebig's law or the law of the minimum, is a principle developed in agricultural science by Carl Sprengel (1828) and later popularized by Justus von Liebig. It states that growth is controlled not by the total amount of resources available, but by the scarcest resource.
What is the lowest rate of pay established by law called?
The lowest rate of pay established by law is called the minimum wage. It is the lowest amount that an employer can legally pay their employees for their work.
What was an American state where slavery is not allowed by law called?
An American state where slavery was not allowed by law was called a "free state." These states did not permit the practice of slavery within their boundaries, in contrast to states where slavery was legal.
Under Pennsylvania law where are persons twenty one years of age and older allowed to drink alcoholic beverages?
It is 21, with exceptions as provided by state law.
David Ricardo's theory called the Iron Law of Wages came to be called?
David Ricardo's theory called the Iron Law of Wages came to be called the Theory of Efficiency of Wages. The Iron Law of Wages says that the worker is going to be paid the minimum wage needed to survive.
What is the law driving with bald tires?
It's not allowed. It is a violation of vehicle safety regulations. If you'd get caught out in rain they'd hydroplane real easily, that's why the law require a certain minimum tread depth.
