Economics Chapter 6 Test

Created by jrogers

Question or Hint Answer or Word
  1. equilibrium price the price at which the quantity demanded and the quantity supplied are equal
  2. disequilbrium when the quantity demanded and quantity supplied are not in balance
  3. price ceiling the legal maximum price that sellers may charge for a product
  4. black market illegal buying or selling in violation of price controls or rationing
  5. rationing a government system for allocating goods and services using criteria other than price

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