Rent controls result in shortages and minimum wage laws result in surpluses
Price serves as a rationing device. Suppliers must determine to whom their production will bedistributed. In a free market economy, this is accomplished through the price mechanism. Thosewho are willing and able to purchase the product will receive the product. Rent controls reducethe ability of landlords to distribute housing services based solely on price. Therefore, they canresort to other mechanisms, such as bribery and favoritism. Unfortunately, some will resort tousing racial or age discrimination as the rationing mechanism.
One company controls a whole industry.
One company controls a whole industry.
one company controls a whole industry
Rent controls result in shortages and minimum wage laws result in surpluses
Positive controls : an experimental treatment that will give the desired result Negative controls: An experimental treatment that will NOT give the dersired result.
The two examples of direct control in ww1 included price controls and rent controls.
Few low income, high need renters benefit from the program in certain cities, so access to apartments is still a challenge in these communities. For some people, though, rent control is a very good thing - if a neighborhood suddenly becomes more valuable and the apartment is rent-controlled, the rent will not go up even though the apartment's value has gone up as the neighborhood becomes better.
Elements of result controls are - Definitions of expected performance -Measurement of the defined performance - Definition of performance targets - Provision of punishments or rewards, if target is reached, respectively not
Crowded apartments
Price serves as a rationing device. Suppliers must determine to whom their production will bedistributed. In a free market economy, this is accomplished through the price mechanism. Thosewho are willing and able to purchase the product will receive the product. Rent controls reducethe ability of landlords to distribute housing services based solely on price. Therefore, they canresort to other mechanisms, such as bribery and favoritism. Unfortunately, some will resort tousing racial or age discrimination as the rationing mechanism.
One company controls a whole industry.
one company controls a whole industry
One company controls a whole industry.
Depends
Government price and rent controls