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| 1. |
Define price ceiling. |
| Answer» <html><body><p><br/></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :Price Ceiling refers to the maximum price the <a href="https://interviewquestions.tuteehub.com/tag/producers-17149" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCERS">PRODUCERS</a> are <a href="https://interviewquestions.tuteehub.com/tag/allowed-857944" style="font-weight:bold;" target="_blank" title="Click to know more about ALLOWED">ALLOWED</a> to charge by selling their goods and services. This intervention is <a href="https://interviewquestions.tuteehub.com/tag/usually-722248" style="font-weight:bold;" target="_blank" title="Click to know more about USUALLY">USUALLY</a> done in the situations of "shortages" as if not controlled, this may <a href="https://interviewquestions.tuteehub.com/tag/lead-540361" style="font-weight:bold;" target="_blank" title="Click to know more about LEAD">LEAD</a> to high market price of the good.</body></html> | |