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Critical Thinking Questions Case 5-2
You are the administrative assistant to the manager of an independent living facility for seniors. The manager asks you to create a list of useful websites and then place copies of the list in the facility's recreation room for easy access by residents who use computers.
Which of the following sites should you include in the list for those seniors interested in family history projects?
Surplus
The excess of supply over demand in a market, resulting in lower prices.
Shortage
A situation in which demand for a product exceeds its supply in a market.
Price Floor
A government- or authority-imposed minimum price that can be charged for a particular good or service, intended to prevent prices from falling below a certain level.
Price Controls
Government-imposed limits on the prices that can be charged for goods and services in a market, aimed at managing the affordability of these goods and services.
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