3 years ago

with the aid of a diagram differentiate between price ceiling and price floor as government intervention measeure

1 answer:

5 0

Price Ceiling and Price Floor are example price controls. They are example of government intervention in the free market that changes the market equilibrium. Price floors are the minimum prices set by the government for certain commodities and services. Price ceiling is the price control imposed by the government or limit on how high a price is charged for a product.

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