Chapter 5 Flashcards

1
Q

A legally established maximum price

A

Price ceiling

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

A legally established minimum price

A

Price floor

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

The secondary effects of an action that may occur as well as the initial effects

A

Unintended consequences

How well did you know this?
1
Not at all
2
3
4
5
Perfectly