- price ceiling: the highest legal price that can be charged for a product
- price floor: the lowest legal price that can be paid for a good or service
- minimum wage: lowest legal wage that can be paid to most workers
- unemployed: having no job
- income: money that is made by working
- Great Depression: a period where Americans lost jobs and the stock market crashed in the 1920s
- target prices: the floor for agricultural products to stabilize farm income
- loan: money that is borrowed
- penalty: punishment, extra money paid
- agriculture: farming
- crops: goods grown on farms
- deficiency payment: cash payment that makes up the difference between the market price and the target price
- investors: someone who spends money in order to make more money
Econ 6.3 Vocab
