Price Floor And Ceiling Quiz

9th 12th grade.

Price floor and ceiling quiz. This is usually done to protect buyers and suppliers or manage scarce resources during difficult economic times. A a rent controlled apartment b a maximum legal price that could be charged for gasoline during a time of war c. Terms in this set 10 which of the following is a good example of a price floor. 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.

9th 12th grade. Price floors and ceilings are inherently inefficient and lead to sub optimal consumer and producer surpluses but. K university grade. Price ceiling is a concept that is often used in economics.

Chapter 4 price ceilings and floors quiz. What does this graph show. Terms in this set 20 which of the following is not a predictable result of a price ceiling. Price floors and price ceilings are government imposed minimums and maximums on the price of certain goods or services.

Price floor and price ceiling draft. Price floor and price ceilings draft. It is legal minimum price set by the government on particular goods and services in order to prevent producers from being paid very less price. Final exam ch.

Preview this quiz on quizizz. But this is a control or limit on how low a price can be charged for any commodity. Quiz questions will focus on topics such as binding price ceiling lines and the term given to how. Like price ceiling price floor is also a measure of price control imposed by the government.

How to calculate changes in consumer and producer surplus with price and floor ceilings. Quiz questions will test your knowledge about price ceiling and definitions associated with this economic term. This quiz worksheet combination will test your understanding of price ceilings and price floors. Econ 101 self test quiz chapter 4.

Preview this quiz on quizizz. Price floor and price ceilings draft. Price floor and price ceiling draft.