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Describe three possible risks you incur when you undertake macro level change.
Binding Price Floor
A government-imposed minimum price set above the equilibrium price, leading to excess supply and potential market inefficiencies.
Shortage
A situation where the demand for a product or service exceeds its supply in a market.
Binding Price Floor
A government-imposed price control or limit that sets a minimum price for a good or service, above the equilibrium price, causing a surplus in the market.
Quantity Supplied
The amount of a good or service that producers are willing to sell at a given price over a certain period of time.
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