Answer: An effective price ceiling is a price imposed by the government below the equilibrium price.
Explanation:
Price ceiling is a price control that is imposed by the government to curtail how high producers or suppliers charge price for a commodity or service. Price ceiling is used by the government to protect consumers from purchasing very high commodities. The very high prices of the good can be as a result of inflation, monopoly or investment bubble
For price ceiling to be effective, the price set must be below the equilibrium price (price set by the forces of demand and supply).
The correct answer is The General Adaptation Syndrome
Explanation: General Adaptation Syndrome is the three-stage process that describes the physiological changes the body goes through when under stress. Hans Selye , a medical doctor and researcher, came up with the theory of GAS.
Imagine that Ireland develops and produces wool more effectively than any other nation, giving it a monopoly over the sector. Ireland has an Absolute advantage in this instance.
Absolute advantage is the capacity of a person, business, area, or nation to produce more of an item or service with the same amount of inputs per unit of time than its rivals, or to generate the same amount of a commodity or service with fewer inputs per unit of time.
By producing the good or service with a lower absolute cost per unit and fewer inputs, or by using a more effective technique, one might achieve absolute advantage.
Absolute advantage is the capacity of a person, business, area, or nation to produce more of an item or service with the same amount of inputs per unit of time than its rivals, or to generate the same amount of a commodity or service with fewer inputs per unit of time.
By producing the good or service with a lower absolute cost per unit and fewer inputs, or by using a more effective technique, one might achieve absolute advantage.
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Answer:
The legislative branch is made up of the House and Senate, known collectively as the Congress. Among other powers, the legislative branch makes all laws, declares war, regulates interstate and foreign commerce and controls taxing and spending policies.
Explanation:
The most important power of Congress is its legislative authority; with its ability to pass laws in areas of national policy. The laws that Congress creates are called statutory law. Most of the laws which are passed down by Congress apply to the public, and on some cases private laws.
