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unit 2 - Coggle Diagram
unit 2
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supply and demand
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quantity
As price goes up and down, the quantity demanded goes down or up
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price controls, ceilings, and floors
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ceiling
A government-imposed price control on how high a price can be charged for a good or service.
Must be lower than equilibrium price
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floor
government-imposed price control on how low a price can be charged for a good or service.
Must be higher than equilibrium price
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