Economics Vocabulary & Terms
Name:
___________________________________ #: ____
Ch 6: Equilibrium
Hour: ______
Date: _______________________________
Section 1: Combining Supply and Demand
1. equilibrium:
2. disequilibrium:
3. excess demand:
4. excess supply:
5. price ceiling:
6. price floor:
7. rent control:
8. minimum wage
Section 2: Changes in Market Equilibrium
1. surplus:
2. shortage:
3. search costs:
Section 3: Role of Prices
1. supply shock:
2. rationing:
3. black market:
4. spillover costs: