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Question

In your opinion should our government impose price floors and price ceilings in our economy? Do they do more harm than good?

Answer 1

Prices are much better left to market forces. That way supply and demand stay in broad equilibrium. If political need requires that the poor have access to something they could not otherwise afford, it is better to subsidise the poor directly, e.g. food stamps in the United States and housing benefit (rent payments with your welfare cheque) in the United Kingdom.

Answer 2

It all depends on the situation.

If the product being sold is not making any money for the seller, then they may decide to pack up their bags and exit the market, and thus there will be less sellers until there is no sellers left. Therefore, the government should impose a price floor, which it will be beneficial.

On the other hand, if there is a monopoly who controls a needed item, they may need to put a price ceiling on the product so that more people can afford it. In this case, it would also be beneficial

Answer 3

With the present form of government we have, The corporations who run everything will not permit it.
That is the truth. Our government has nothing to say about the Economy.