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stealth61 [152]
2 years ago
13

How has the international community sought to reduce the negative effects of price floors?

Business
1 answer:
Alex_Xolod [135]2 years ago
3 0

The international community has sought to reduce the negative effects of price floors by banning the practice of dumping surplus productions.

<h3>What is a price floors?</h3>

This refers to the lowest legal price that can be paid in a market for goods and services, labor, financial capital etc.

It is adopted to keeps a price from falling below a given level. It is also called a price supports because they support a price by preventing it from falling below a certain level.

A very good example of price floor is the minimum wage which is a minimum price for the service of labor and thus is a price floor.

In conclusion, in the international sphere, the international community has sought to reduce the negative effects of price floors by banning the practice of dumping surplus productions.

Read more about price floors

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