Economics 6.3 (B)

3. the time, energy, and money that buyers and sellers in a market expend in trying to find one another in order to engage in transactions.
5. broad term for legislation that limits rental rates in a city or state
7. cost of production that affect people who have no control over how much of a good is produced.
8. amount of an asset or resource that exceeds the portion that’s actively utilized.
10. making an itemized list of merchandise or supplies on hand
15. a situation in which the demand for a product or service exceeds its supply in market
16. the demand in a product or service exceeds its supply in a market (a lack of affordable)
17. a situation where internal and/or external, forces prevent market equilibrium from being reached.

1. market in which goods are sold illegally
2. a condition or state in which economic forces are balanced.
4. system of allocating scarce goods and services using criteria other than price
6. the lowest wage per hour that a worker may be paid
9. sudden shortage of a good
11. the lowest legal price that can be paid in a market for goods and services,labor, or finical capital
12. a type of price control usually government mandated.
13. where price is more than its equilibrium price.
14. something that is very popular for a short time then forgotten