AP Notes, Outlines, Study Guides, Vocabulary, Practice Exams and more!

Price ceiling

Krugman AP Macro Economics Chapter 8

Subject: 
Economics
Rating: 
0
No votes yet
Tags: 
Pricing
economics
Business
marketing
Price ceiling
Price floor
Economic shortage
Economic equilibrium
Supply and demand
Price controls
Economic surplus
Price
behavior
Human development
Computing
Computer file formats
Electronic documents
Interpersonal relationships
Psychoanalysis
Human behavior
Portable Document Format
Attachment theory
Technology

?? Chapter 8: Supply and Demand: Price Controls (Ceilings and Floors) Price controls: legal restrictions on how high or low a market price may go, government action in economy price ceiling: a maximum price sellers are allowed to charge for a good or service price floor: a minimum price buyers are required to pay for a good or service. Assumption: the markets in question are efficient before price controls are imposed price controls in inefficient markets don?t necessarily cause problems and can potentially move the market closer to efficiency Price Ceilings ? Push Prices down Price Ceiling: suppliers have less incentive to offer apartments less of a good are produced Consumer have higher demand shortage of good

AP Economics Chapter 7 Notes

Subject: 
Economics
Rating: 
4
Average: 4 (1 vote)
Tags: 
economics
Pricing
demand
Consumer theory
Microeconomics
marketing
Supply and demand
Monopoly
Demand curve
Economic equilibrium
Price ceiling
supply

Chapter 7 Notes Sect 1 Idea of demand centers on people being both willing and able to pay for a product or service In a market economy, consumers collectively have a great deal of influence on the prices of all goods and services. Demand: The amount of a good or service that consumers are able and willing to buy at various possible prices during a specified time period. Supply: The amount of a good or service that producers are able and willing to sell at various prices during a specified time period Market: The process of freely exchanging goods and services between buyers and sellers. A market for a particular item or service can be local, national, international, or a combination of these
Subscribe to RSS - Price ceiling

Need Help?

We hope your visit has been a productive one. If you're having any problems, or would like to give some feedback, we'd love to hear from you.

For general help, questions, and suggestions, try our dedicated support forums.

If you need to contact the Course-Notes.Org web experience team, please use our contact form.

Need Notes?

While we strive to provide the most comprehensive notes for as many high school textbooks as possible, there are certainly going to be some that we miss. Drop us a note and let us know which textbooks you need. Be sure to include which edition of the textbook you are using! If we see enough demand, we'll do whatever we can to get those notes up on the site for you!