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Price controls prevent price gouging on items that are essential but either in short supply or else whose supply in controlled by one group.
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∙ 11y ago
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Explain why shortages and surpluses are not temporary when price controls are used?
If the price ceiling is above the market price then there's no direct effect. If the price ceiling is set below the market price, then a shortage is created. :)
Who controls the price of oil in the middle east?
Opec
Give an example of a price floor and a price ceiling and the purpose of the controls?
an example of a price floor is the minimum wage
What type of government controls the OPEC?
OPEC controls most of the worlds oil source.
What did organized labor want the government to do after the war?
Keep price controls in effect
Who controls the price of gasoline?
the government controls the price of gasoline
Explain why shortages and surpluses are not temporary when price controls are used?
If the price ceiling is above the market price then there's no direct effect. If the price ceiling is set below the market price, then a shortage is created. :)
What controls price and availability in an industry?
monopoly
Who controls the price of oil in the middle east?
Opec
Give an example of a price floor and a price ceiling and the purpose of the controls?
an example of a price floor is the minimum wage
What type of government controls the OPEC?
OPEC controls most of the worlds oil source.
What did the agricultural industry want the government to do after the war?
get rid of price controls
What happened to the polish economy when price controls in Poland?
inflation soared
Diocletian tried to restore the roman economy with taxation and?
Price Controls
What are two examples of direct control in ww1?
The two examples of direct control in ww1 included price controls and rent controls.
What did organized labor want the governments to do after the war?
Keep price controls in effect
Did Ronald Reagan deregulate the oil industry?
NO!! He only deregulated PRICE CONTROLS.
