0
In some cases the price for an object as achieved by supply and demand does not cover the average cost of an item. If this is the case, there is an incentive not to produce to save money. Therefore, the government will enact a price floor so that the industry will find it profitable to produce and thus do so.
What else can I help you with?
Why does the government sometimes set prices?
Governments sometimes set prices to protect producers and consumers from dramatic price swings.
In which type of economy would prices be set by the government?
command economy
A free market economy in which prices are set by economic forces of supply and demand is sometimes described as?
Laissez-faire
Which of the following does the government do in a socialist country A Ensure free choice for consumers B Set prices for goods and services C Guarantee property rights D Protect t?
B. set prices for goods and services~apexx~ab
Why did the government set crop prices so high during ww1?
More crops for soldiers, increased funding for spending. Coffman?
Why does the government sometimes set prices?
Governments sometimes set prices to protect producers and consumers from dramatic price swings.
What does a government do in a socialist country?
set prices for goods and services
What does the government do in the socialist country?
set prices for goods and services
In which type of economy would prices be set by the government?
command economy
What did the Supreme Court case of Munn v Illinois permit the government to do?
it allowed the government to set prices over some private businesses (apex)
A free market economy in which prices are set by economic forces of supply and demand is sometimes described as?
Laissez-faire
What role does government have in the U.S market economy?
It doesn't decide which or how many goods are produced, or it doesn't set prices or tell people where to work. The government doesn't play much of a role at all.
Which of the following does the government do in a socialist country A Ensure free choice for consumers B Set prices for goods and services C Guarantee property rights D Protect t?
B. set prices for goods and services~apexx~ab
Why did the government set crop prices so high during ww1?
More crops for soldiers, increased funding for spending. Coffman?
What did the supreme court case of Munn vs. Illinois decide?
it allowed the government to set prices over some private businesses
What type of economic market does not need to advertise?
A market where there is no choice, maybe, like a command economy, where goods and prices are set by the government.
What was Hoover's philosophy of government?
Hoover believed that the federal government could not give direct aid to individuals. He believed in free market capitalism and did not think the constitution gave the federal government the power to set prices.
