Government Price Controls

question 16

Multiple Choice

Government price controls

• A) ensure that transactions take place at a fair price.
• B) inform consumers what is the maximum price they should pay.
• C) usually set upper or lower limits on prices.
• D) act as a guideline to producers as to what is a fair price.
• E) ensure that the actual price is at its free- market equilibrium.

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Definitions:

Inferiority Complex

A psychological condition in which a person feels a deep sense of inadequacy and lack of self-worth, often in comparison to others.

Postsecondary Education

Education provided after high school, including programs at colleges, universities, and vocational schools.

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A psychological term indicating a person’s sense of self-esteem or self-importance, which is resilient and robust.

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