Price support will be beneficial to producers but costly to consumers.
Price support refers to efforts by a government to keep the price of a commodity higher than it should be were it priced based on supply and demand.
Ways the government can do this include:
- Subsidies
- Production quotas - limiting the quantity produced
- Price controls
Price supports make prices higher than they should be which would give producers more profit therefore tennis racket producers benefit.
On the other hand, they make things more expensive for consumers who will be forced to spend more than they usually do on tennis rackets thereby making it costly to them.
In conclusion, price controls help producers but are costly to consumers.
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Answer:
Four common causes, as recognized by social scientists, are technology, social institutions, population, and the environment. All four of these areas can impact when and how society changes. And they are all interrelated: a change in one area can lead to changes throughout
Legislative—it Makes laws (Congress, comprised of the House of Representatives and Senate) Executive—Carries out laws (president, vice president, Cabinet, most federal agencies) Judicial—Evaluates laws (Supreme Court and other courts)
