| A | B |
|---|
| rationing | dividing up goods and services without regard to prices |
| black market | illegal market where things are sold for more than their legal price |
| supply shock | a sudden shortage of a good |
| free market | resources are distributed according to price |
| profit incentive | motivation to sell based on profit |
| efficeint resource allocation | using resources for their most valuable purposes |
| imperfect competiton | when too few companies produce the same product |
| price system | the way buyers and sellers communicate |
| inventory | the quantity of goods that a firm has on hand |
| fad | a product that is popular for a short period of time |
| search costs | the financial and opportunity costs that consumers pay when searching for a good or service |
