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).
Answer:
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Answer: False
Explanation:
Human activities are exhausting some of the resources in our environment. Also the effects of our activities are impacting our environment negatively and this can be seen in extinction of some species of plants and animals due to deforestation to accommodate the growing population and over farming across the world. Also, global warming resulting from emission of greenhouse gases due to industrialization.
