A Consequence of Either a Price Ceiling or a Price

question 59

Multiple Choice

A consequence of either a price ceiling or a price floor is

• A) a market surplus.
• B) an unwanted market allocation.
• C) a market shortage.
• D) better organization of resource allocation,resulting in more efficiency.
• E) Price floors and price ceilings cannot have an identical outcome.

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Definitions:

Ethics Issues

Problems or situations that require individuals or organizations to choose between actions that must be evaluated as right or wrong, often involving moral dilemmas.

Milgram's Study

A series of psychological experiments conducted by Stanley Milgram, which aimed to measure the willingness of participants to obey an authority figure who instructed them to perform acts conflicting with their personal conscience.

Cross-Cultural Research

Studies that compare aspects of two or more cultures to understand their differences and similarities.

Human Universal

A term referring to elements and behaviors that are found and recognized across all cultures and societies.