Economics

A price ceiling protects the poorest consumers by keeping goods affordable.

A budget reveals the spending plan for the fiscal year, as well as the government's financial priorities and goals.

Speculators from rushing into and out of a country's market and disrupting its economy./

it increases the tax as income rises

Constantly increasing

Government censorship

To win political support

Rationing

Tariffs and embargos are trade restrictions.

The passage of environmental protection laws results in higher prices.

Some northern states made slavery against the law.

Producers are driven by the profit motive to work against competition

Think that you're country A, wanting to buy pen and paper.

Country B produces 1 million pen and 1 BILLION paper

Country C produces 1 BILLION pen and 1 million paper

Or, country B has the absolute advantage over production of paper while

country C has the absolute advantage over production of pen.

Coming back our theory of economy of scale, we know that to a certain point, increased production would lead to lower average cost and thus, lower price.

This would mean that paper from country B is cheaper than country C whereas pen from country C is cheaper than country B.

Therefore, you would choose to trade paper with country B while trading pen with country C.

And this is why it is important to making economic choices.

higher prices

Private sector companies

A restriction on when a union may call a strike

A. Social security _ government agency

B. U.S. Postal Service _ government corporation

C. Boeing _ government contractor

Organization of Petroleum Exporting Countries competition regulator

Lockheed Martin Corporation government contractor

Antitrust Division of the Department of Justice cartel