Asked by
Olivia Kocko
on Oct 26, 2024Verified
The most likely reason that the government implements a price _____ is because it feels the price is too high for _____.
A) ceiling;consumers
B) floor;consumers
C) ceiling;producers
D) floor;producers
Government Implements
Actions taken by the government to put policies, regulations, or laws into effect.
Price Ceiling
A government-imposed limit on how high a price can be charged on a product, intended to protect consumers from high prices.
Consumers
Consumers are individuals or organizations that acquire goods and services for private purposes.
- Understand the rationale behind government implementation of price controls and the intended beneficiaries.
Verified Answer
MP
Learning Objectives
- Understand the rationale behind government implementation of price controls and the intended beneficiaries.