FUN CHECK-IN QUIZ!

A price ________________ is a maximum price set by the government to prevent prices from getting too high.

• ceiling

• door

• floor

This Sunday, we will turn our clocks ___________ one hour.

• forward

• back

• counterclockwise then clockwise

Ms. Hartman's favorite color is ___

• purple

• pink

• yellow

A price __________ is a minimum price set by the government o prevent prices from going too low.

• ceiling

• carpet

• floor

Rent control laws set a price _____________ on the amount of rent a landlord can charge a tenant.

• limit

• floor

• ceiling

TRUE or FALSE?

Minimum Wage laws are a great example of price ceilings.

• TRUE

• FALSE

The picture on the left represents:

• price controls

• market equilibrium

• price ceiling

The equilibrium price is the price at which the quantity of a product demanded by consumers equals the quantity supplied by _______________.

• producers

• the government

• black markets

Rationing is the controlled distribution of a _________________ supply of a good or service.

• limited

• overwhelming

• excess

A ___________ market is an illegal market in which goods are traded at prices or in quantities higher than those set by law.

• blue

• underground

• black