A price floor or a price ceiling is an example of:
A)a quantity control.
B)a price control.
C)market equilibrium
D)price.a quota.

Question

Quizplus · Accepted Answer

A price floor or price ceiling is a type of government intervention in markets which imposes a minimum or maximum price that can be charged for a good or service. This is an example of a price control, as the government is setting a specific price that cannot be exceeded or fallen below.

A Price Floor or a Price Ceiling Is an Example