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Please identify the appropriate term for the following scenarios. Garet is an undergraduate student who has to work at McDonald's part-time to help pay

     

Please identify the appropriate term for the following scenarios. Garet is an undergraduate student who has to work at McDonald's part-time to help pay his tuition loans. Always looking on the bright side of things, he is thankful that he cannot make less than what he is earning, $7.25/hour. D'Artagnan, a poor French noblemen, discovers a large cache of truffles in his backyard. However, the government caps the sale of truffles at $100/pound, which frustrates D'Artagnan because he knows they are worth more than that. To help out farmers, the government sets the minimum price of potatoes at $26 per bushel. In order to support domestic sales of textiles, the country of Germany puts a cap on the amount of foreign textiles it imports.

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