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econ 6.3 st gd Word Scramble

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Created by: jazznsoul64

Question	Answer
What is an example of a price ceiling?	Rent control.
What is an example of a price floor?	Minimum wage.
Price ceilings that are artificially low are likely to create what situation?	Shortages.
Price floors that are artificially high are likely to create what situation?	Surpluses.
What does the federal minimum wage law demonstrate about society?	Fair wage requirement for all.
What is meant by the phrase "markets talk"?	When prices in the market move up or down significantly.
When economic or political conditions are unstable, what happens to the demnad for gold? what about its price?	The demand for gold increase. The price for gold goes up.
Why might a government intefere in a market economy by setting prices?	To help and reshape the economy.