Advantages of a maximum price | Black market & a maximum price | Calculations & a maximum price | Ceiling Price | Maximum Price Control | Reasons for a maximum price
What are price controls?
What is the main disadvantage of a price control?
The market equilibrium is $10. If the government imposes a maximum price of $7, quantity demanded will ___________, quantity supplied will __________ and the price will __________.
With reference to the diagram, related to a maximum price control, which statement is incorrect?
Which government measure is likely to reduce the availability of houses for consumers to rent?
Market equilibrium will occur:
A __________ can be set by the government in the interests of consumers to make products more affordable.
A government introduces a maximum price renting houses (P max H) and a minimum price for bread producers (P min B). Which diagram illustrates that the minimum price will be ineffective and the maximum price will be ineffective in the respective markets?
With reference to the diagram, related to a maximum price control, which statement can we be sure is correct?
When the government wants to protect consumers from high prices, which price control option is best?
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