Econ Chapter 6 Flashcards

1

Which of the following is an example of a price floor?

2

The point where the supply and demand curves meet is known as:

3

Which of the following can lead to a shift in supply?

4

Which of the following are potential market problems found in the price system?

5

The maximum legal price that can be charged is known as:

6

When supply exceeds demand, what occurs?

7

Which of the following is NOT an advantage of prices?

8

Government distribution of goods and services is known as:

9

Which of the following statements about the price system is true?

10

When demand exceeds supply, what occurs?

Econ Chapter 6