-Throughout History, Governments Have Used Price Controls to

question 33

Multiple Choice

-Throughout history, governments have used price controls to

• A)protect buyers.
• B)protect sellers.
• C)serve the "public interest."
• D)All of these responses are correct.

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Definitions:

Rival in Consumption

A characteristic of a good whereby its consumption by one individual prevents simultaneous consumption by other individuals.

Excludable

An excludable good or service is one where it is possible to prevent people who have not paid for it from having access to it.

Television Broadcast

Television broadcast is the dissemination of content via terrestrial, cable, or satellite transmissions to a wide audience with a television receiver.

Not Rival in Consumption

Pertains to a good or service that can be consumed by one individual without reducing its availability to others.