Economics vocab

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Across
  1. 4. Situation where the amount of a good available fails to meet its demand
  2. 8. Market price where the amount of a product supplied equals the amount of the product demanded
Down
  1. 1. An excess of something produced
  2. 2. price The minimum price that the cost of farm products shouldn't fall beyond
  3. 3. A set of economic relationships that can be depicted in a table or graph
  4. 5. wage Lowest hourly rate an employee can be paid
  5. 6. floor The minimum price that a good or service can cost
  6. 7. Refund to an individual who has overpaid for taxes, rent or a utility
  7. 9. In a time of shortage, allowing each person to obtain a fixed amount of a good