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Explore the monetary value of products set by supply and demand, governmental fair share decisions, rationing tickets, and rebate refunds. Learn how these concepts impact the market and consumer interactions.
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Vocab Chapter 6 section 1
Monetary value of a product as established by supply and demand Price
System under which a government agency decides everyone “fair” share Rationing
Ticket or receipt that entitles the holder to obtain a certain amount of a product Ration coupon