InterviewSolution
Saved Bookmarks
InterviewSolution
| 1. |
Discuss the meaning of Prrce Ceiling and Price Floor. |
| Answer» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> ceiling refers to <a href="https://interviewquestions.tuteehub.com/tag/fixing-992166" style="font-weight:bold;" target="_blank" title="Click to know more about FIXING">FIXING</a> the maximum price of a <a href="https://interviewquestions.tuteehub.com/tag/commodity-923558" style="font-weight:bold;" target="_blank" title="Click to know more about COMMODITY">COMMODITY</a> that is lower than the equilibrium price.<br/>Price floor is the minimum price <a href="https://interviewquestions.tuteehub.com/tag/fixed-457597" style="font-weight:bold;" target="_blank" title="Click to know more about FIXED">FIXED</a> for a commodity by the government (above the equilibrium price), which must be paid to the producers for their produce.</body></html> | |