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ch6s3

vocab

TermDefinition
price ceiling established maximum price that sellers may charge for a good or service
price floor established minimum price that buyers must pay for a good or service
minimum wage minimum legal price that an employer may pay a worker for one hour of work
rationing system in which the government allocates goods and services using factors other than price
black market place where goods and services are illegally bought
Created by: shortbreadcookie
Popular Economics sets

 



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