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

Economic shortage

Krugman AP Macro Economics Chapter 8

Subject: 
Rating: 
0
No votes yet

?? 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
Subscribe to RSS - Economic shortage

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!