Ch 2 Lesson 6 Vocab

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Across
  1. 4. Illegal market in which goods are traded at prices or in quantities higher than those set by law.
  2. 5. Maximum price set by the government to prevent prices from going too high.
  3. 7. Price at which the quantity of a product demanded by consumers equals the quantity supplied by producers.
  4. 8. Quantity of a good or service demanded by consumers and supplied by producers when the market is in equilibrium.
Down
  1. 1. Point at which the quantity of a product demanded by consumers in a market equals the quantity supplied by producers.
  2. 2. The controlled distribution of a limited supply of a good or service.
  3. 3. Government-imposed limits on the prices that producers may charge in the market.
  4. 6. A minimum price set by the government to prevent prices from going too low.