7.7: Glossary- Government Action
- Page ID
- 162066
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- price ceiling
- a legal maximum price
- price control
- government laws to regulate prices instead of letting market forces determine prices
- price floor
- a legal minimum price
- total surplus
- see social surplus
- Principles of Microeconomics Chapter 3.5 Glossary. Authored by: OpenStax College. Located at: http://cnx.org/contents/ea2f225e-6063-41ca-bcd8-36482e15ef65@10.31:24/Microeconomics. License: CC BY: Attribution. License Terms: Download for free at http://cnx.org/content/col11627/latest