Figure: Price Ceiling in a Generic Market 
Refer to the figure. If the government imposes a price ceiling at the price of $4.00, the result would be a:
Definitions:
Interest Rate
The cost of borrowing money or the return on investment, expressed as a percentage, charged by lenders to borrowers for the use of their money.
Substitution Effect
The change in demand for a good or service caused by a change in its price, making consumers replace it with a cheaper alternative.
Income Effect
A change in consumption patterns resulting from a change in real income due to variations in prices, other factors remaining constant.
Savings Rate
The proportion of disposable income that is saved by individuals or entities, rather than spent, often expressed as a percentage.
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