Answer: Price ceilings are beneficial to society, and are often necessary, in that they make sure that essential goods are financially accessible to the average person, at least in the short run. By lowering costs, price ceilings also have the beneficial effect of helping to stimulate demand, which can contribute to the health of an economy.
However, there can also be downsides to price ceilings. While they stimulate demand, price ceilings can also cause shortages. Where the ceiling is set, there is more demand than at the equilibrium price. This means that the amount of the good or service supplied is less than the quantity demanded.
For example: in agriculture, medicine, and education, many governments set maximum prices to make the needed goods or services more affordable. Producers may respond to such an economic situation by rationing supplies, decreasing production levels or lowering the quality of production, making the consumer pay extra for otherwise free elements of the good (features, options, etc.), and more.
Request: Can I please get brainliest
So you can have food, shelter and help your damily
Explanation:
- Understand your audience. ..
- Create your blog domain. ...
- Customize your blog's theme. ...
- Identify your first blog post's topic. ...
- Come up with a working title. ...
- Write an intro (and make it captivating). ...
- Organize your content in an outline. ...
- Write your blog post!
this is the guidence how to make blog
I hope u find this helpful
There are lot of people involved in production. The action taken by the producer is prohibited by law.
<h3>Which actions is considered to be an unfair trade practice?</h3>
Unfair business practices are said to be any kind of misrepresentation, untrue advertising or depiction of a good or service, noncompliance with the terms of manufacturing standards, etc.
The action of the producer is prohibited because it is not the right thing to do and also not backed up by law.
Learn more about Producers from
brainly.com/question/8806324
Answer:
A. Reversals entry
1. Dr Cash 900
Cr Equipment 900
Correct entry
Dr Wages and salaries 900
Cr Cash 900
B.
2. Dr Cash 5850
Dr Service revenue 650
Cr Account payable $6,500
3. Dr Accounts payable 360
Cr Equipment 360
Explanation:
A. To Correct the errors by reversing the incorrect entry and Preparation of the correct entry.
Reversals entry
1. Dr Cash 900
Cr Equipment 900
Correct entry
Dr Wages and salaries 900
Cr Cash 900
B. To Correct the errors without reversing the incorrect entry
2. Dr Cash 5850
($6500-650)
Dr Service revenue 650
Cr Account payable $6,500
3. Dr Accounts payable 360
(510-150)
Cr Equipment 360
