Government-enforced price ceilings set below the market-clearing price and government-enforced price floors set above the market-clearing price distort price signals and incentives to producers and consumers. Price ceilings can cause persistent shortages, while price floors can cause persistent surpluses.
Standard detail
4.
Benchmark
Depth 1Parent ID: 415241DFE59E4ED0AD35B0BCDFC3D473Standard set: Grades 9, 10, 11, 12
Original statement
Quick facts
- Statement code
- 4.
- List ID
- 4.
- Standard ID
- 159A4EE8B86646CDB241F75BD28282AB
- ASN identifier
- S2604746
- Subject
- Economics
- Grades
- 09, 10, 11, 12
- Ancestor IDs
- 415241DFE59E4ED0AD35B0BCDFC3D473
- Source document
- Voluntary National Content Standards in Economics (2010)
- License
- CC BY 3.0 US