| A | B |
|---|
| rent control | a price ceiling placed on rent |
| minimum wage | a minimum price that an employer can pay a worker |
| surplus | quantity supplied is greater than quantity demanded |
| shortage | when a good or service is unavailable |
| rationing | a system of allocating scarce goods and services |
| monopoly | a market dominated by a single seller |
| oligopoly | when a few large firms dominate a market |
| collusion | an agreement among firms to divide the market, set price, or limit production |
| cartel | producers that agree to coordinate prices and production |
| deregulation | the removal of some government controls over a market |
