Why do government leaders impose price controls? Question 23 options: They are t
ID: 1173964 • Letter: W
Question
Why do government leaders impose price controls?
Question 23 options:
They are trying to promote the formation of black markets.
They are trying to ensure that the market reaches equilibrium.
They are trying to ensure that all consumers are able to purchase a specific product.
They are trying to ensure that a social goal is satisfied.
They are trying to increase the demand curve.
They are trying to promote the formation of black markets.
They are trying to ensure that the market reaches equilibrium.
They are trying to ensure that all consumers are able to purchase a specific product.
They are trying to ensure that a social goal is satisfied.
They are trying to increase the demand curve.
Explanation / Answer
Answer is price controls are implemented to ensure a social-economic goal is fulfilled. Price controls take the form of price ceiling and price floor. Price controls for staple food items in times of scarcity helps to control the price of the product and ensure its availability.
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