2007-01-31 01:16:41 · 3 answers · asked by Farock_utm 1 in Social Science ➔ Economics
One market control that is fairly common is price ceilings. For example, many areas have rent controls, meaning rents cannot go above a certain price. Thus, it messes with the market if the equilibrium price is above the ceiling. New York City is one of the biggest places where this type of problem is seen. As such, these rent controlled areas often are given based on other criteria rather than on who is willing to pay the most for it.
2007-01-31 03:25:02 · answer #1 · answered by theeconomicsguy 5 · 0⤊ 0⤋
A market control is any act which changes the market equilibrium. For example maximum or minimum price. Maximum price means that a good or service cannot be sold below a certain price, the maximum price is imposed above the market equilibrium by government legislation. It is also known as floor price. Minimum price is pretty much the opposite and is also known as the ceiling price. It is imposed below the market equilibrium by government legislation.
2007-01-31 04:03:33 · answer #2 · answered by Flame666_90 2 · 0⤊ 0⤋
An embargo or an import/export tarriff is an example on a market control. example change with the market selected
2007-01-31 03:11:14 · answer #3 · answered by Jim7368 3 · 0⤊ 0⤋