Asked by
Asenaca Waqatabu
on Nov 17, 2024
Verified
Price controls can generate inequities.
Price Controls
Government-imposed limits on the prices that can be charged for goods and services in a market.
Inequities
Unfair, avoidable differences in treatment or opportunities across individuals or groups.
- Recognize the consequences of price ceilings, such as shortages, rationing mechanisms, and market inefficiencies.
Verified Answer
JA
Learning Objectives
- Recognize the consequences of price ceilings, such as shortages, rationing mechanisms, and market inefficiencies.