A Maximum Price, Set by the Government, That Sellers May

question 170

Multiple Choice

A maximum price, set by the government, that sellers may charge for a good is known as

• A) a price floor.
• B) a price rationing mechanism.
• C) a price ceiling.
• D) a subsidy.

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Definitions:

Biases

Prejudices or predispositions toward something or someone, often in an unfair or non-objective manner.

Interpersonal Communication

The exchange of information, feelings, and meanings between two or more people through verbal and/or non-verbal methods.

Sender

The person or entity that initiates a message in the communication process.

Receiver

In communication, the receiver is the individual or group who interprets or decodes the message sent by the sender.