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2 cards from this section. Quick, good the night before a test.
What are price controls?
Think about why we'd want prices to be capped.
Give an example of an essential good.
What do we need on a daily basis?
What is the main purpose of price controls?
Think about how these laws are meant to protect consumers.
True or False: The government does not need to enforce price control laws.
Consider why laws need support and monitoring.
Analyze how price control laws might affect supply and demand in local markets.
Think about the relationship between price, supply, and market motivation.
Evaluate the effectiveness of price controls in preventing social injustice.
Consider both enforcement and the economic realities of supply and demand.
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