To Keep the Price of Gas from Rising Quickly After

question 125

Multiple Choice

To keep the price of gas from rising quickly after a hurricane, the government sometimes institutes price ceilings on the price of gasoline. These price ceilings cause ________ in the gasoline market.

• A) surpluses
• B) movement of the demand curve
• C) movement along the demand curve
• D) shortages

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Definitions:

Unmet Needs

Desires or requirements of consumers that have not been addressed or satisfied by existing products or services in the market.

Business Models

The strategic plan for how a company will generate revenue, make a profit, and sustain its operations, outlining sources of income, target customer base, products, and details of financing.

Business Model

A conceptual structure that supports the viability of a business and explains how it operates, makes money, and delivers value to stakeholders.

New Venture

The act of embarking on a new business endeavor that typically involves risk and innovation.