Price Floor And Ceiling Quiz

K university grade.

Price floor and ceiling quiz.

This is usually done to protect buyers and suppliers or manage scarce resources during difficult economic times. Terms in this set 20 which of the following is not a predictable result of a price ceiling. What does this graph show. Quiz questions will focus on topics such as binding price ceiling lines and the term given to how.

Terms in this set 10 which of the following is a good example of a price floor. Econ 101 self test quiz chapter 4. 9th 12th grade. Preview this quiz on quizizz.

A a rent controlled apartment b a maximum legal price that could be charged for gasoline during a time of war c. What does this graph show. Price floors and price ceilings are government imposed minimums and maximums on the price of certain goods or services. How to calculate changes in consumer and producer surplus with price and floor ceilings.

Terms in this set 7 price floor a price floor is a government set price above equilibrium price it is a tax on consumers and a subsidy to producers. Exorbitant profits for producers of the good. Like price ceiling price floor is also a measure of price control imposed by the government. Preview this quiz on quizizz.

Final exam ch. Price ceiling is a concept that is often used in economics. Quiz questions will test your knowledge about price ceiling and definitions associated with this economic term. Price floor and price ceiling draft.

Chapter 4 price ceilings and floors quiz. Macro quiz price floors and ceilings. But this is a control or limit on how low a price can be charged for any commodity. Price floor and price ceilings draft.

9th 12th grade. Price floor and price ceiling draft. Price floors and ceilings are inherently inefficient and lead to sub optimal consumer and producer surpluses but.