A | B |
price | monetary value of a product as established by supply and demand |
rationing | system of allocating goods and services without prices |
ration coupon | permit that allows the holder to recieve a given amount of rationed product |
rebate | a partial refund of a product's orginal price |
neutral | favoring neither side in a dispute |
criteria | a standard or rule upon which judgement can be based |
economic model | a simplified version of a complex behavior expressed in the form of an equation, graph, or equation |
equilibrium price | price where quantity supplied equals quanity demanded |
surplus | quantity supplied is greater than quantity demanded at agiven price |
shortage | quantity supplied is less than quantity demanded at a given price |
voluntary | done by free choice |
fluctuates | changes |