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Price Ceilings Flashcards | StudBud
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Price Ceilings
Price Ceilings
8 terms
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StudBud Administration
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13 plays
#Economics #supply #demand #priceceilings #DeJong
Flashcards
8 cards
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Practice quiz
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Questions
8
Answers
1
What is a price ceiling?
Don't pick this!
I needed another question
A price control
Anti-price goughing law
2
A price ceiling occurs...equilibrium?
...At...
...Before...
...Above...
...Below...
3
Price ceilings prevent...?
Chickens deaths
Equilibrium
Shortages
Price Gouging
4
If a price ceiling was put gasoline, the effect will be...?
A black market for gas
A decrease in an incentive to produce gas
People waiting in lines
A shortage of gas
5
Since buyers can't compete with price, they will instead compete based upon...?
This one!
How fast their car goes
Luxury
Time
6
An example of a price ceiling is...?
Car buyback programs
Minimum wage
Keeping the price of generators low during disasters
Quotas on light bulbs
7
A price ceiling placed above equilibrium will cause...?
Something
An increase in government subsidies
Nothing
A decrease in the supply of baby chicks
8
Price Ceilings often result in a lower...?
Quality of product
Both Equilibrium and Demand
Equilibrium
Demand
