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7.7: Glossary- Government Action

Last updated

Aug 7, 2020
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- 7.6: Putting It Together- Government Action
- 7.8: Why It Matters- Government Action

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price ceiling: a legal maximum price

price control: government laws to regulate prices instead of letting market forces determine prices

price floor: a legal minimum price

total surplus: see social surplus

Principles of Microeconomics Chapter 3.5 Glossary. Authored by: OpenStax College. Located at: http://cnx.org/contents/ea2f225e-6063-41ca-bcd8-36482e15ef65@10.31:24/Microeconomics. License: CC BY: Attribution. License Terms: Download for free at http://cnx.org/content/col11627/latest

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