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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is a price ceiling?
💡 Hint: Think about governmental price interventions.
Question 2
Easy
What happens when a price ceiling is set below the equilibrium price?
💡 Hint: Consider the balance between supply and demand.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is a price ceiling?
- A minimum price restriction
- A maximum price limit
- A tax imposed by the government
💡 Hint: Remember, it's about limiting how high the price can go.
Question 2
True or False: A price ceiling can lead to a surplus of goods.
- True
- False
💡 Hint: Consider how supply relates to the imposed price.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Consider a market where the equilibrium price of bread is Rs 50, and a price ceiling of Rs 30 is set. Analyze the potential consequences on supply and consumer behavior.
💡 Hint: Think about how price changes influence both sides of the market.
Question 2
Evaluate the socio-economic impacts of price ceilings in low-income communities during a food crisis.
💡 Hint: Consider both the positive intent and negative outcomes of such interventions.
Challenge and get performance evaluation