micro/macro Econ Word Scramble
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| Term | Definition |
| Equilibrium | the point at which quantity demanded and quantity supplied are equal |
| Disequilibrium | describes an price or quantity not at equilibrium when quantity supplied is not equal to quantity demanded in a market |
| excess demand | when quantity demanded is more than quantity supplied |
| excess supply | when quantity supplied is more than quantity demanded |
| price ceiling | a maximum price that can be legally charged for a good or service |
| price floor | a minimum price for a good or service |
| rent control | a price ceiling placed on rent |
| minimum wage | a minimum price that an employer can pay a worker for an hour of labor |
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acoronado