Price Ceilings and Floors- Micro Topic 2.8
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- Опубліковано 19 лип 2024
- New video for this topic: • Government Interventio...
In this video I explain what happens when the government controls market prices. Price ceilings are a legal maximum price and price floors are a minimum legal price. Make sure that you can draw each of them on a demand and supply graph and identify if there is a shortage or a surplus. Keep in mind that your teacher may use the word "binding" to describe the situation where the price control has an effect on the market.
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if you ever forget:
FlooR - the "R" stands for "roof"
CeilinG - the "G" stands for "ground"
edit: this mnemonic got me a 98% on my Unit 1 Quiz!! feel free to use it :)
tyyy (:
@@das8320 hot - Will Smith
wow thats literally the synonyms given to the opposites. Very Helpful though. hope it doesnt mess with my english hahaha
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Thanks a lot Mr. Clifford this video has helped me to understand price ceiling and price floor way better than before.
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You have no idea how much I spent understanding price ceiling and floor because I always get confused and floor down ceiling up. You helped me alot you made socio major person understood econ! Thank you subscribed and liked
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Finally someone has clearly explained Price floors and price ceilings! I get it!
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finally understand the floor and the ceiling, Thanks a lot!
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