When Government Imposes Price Controls in a Market

question 177

Multiple Choice

When government imposes price controls in a market,

• A) non-price factors become more important in the rationing of the good.
• B) efficiency in the market is enhanced.
• C) shortages and surpluses are eliminated.
• D) buyers and sellers both become better off.

Evaluate the strategies for developing global leaders.

Understand different styles of leadership and factors determining their effectiveness.

Identify key characteristics of successful global leaders.

Learn the strategies for developing global leaders.

---

Definitions:

Nonnegotiable

Nonnegotiable refers to something that cannot be negotiated or altered, such as a fixed term in a contract or a financial instrument with terms that cannot be changed.

Without Recourse

This refers to a provision in an agreement that exempts the seller from liability or obligation to the buyer in case of some failure on the part of the products or services sold.

Negotiability

Refers to the feature of a financial instrument which allows it to be transferred from one party to another in a legal manner, typically without endorsement or delivery.

Blank Indorsement

A signature by the holder on the back of a negotiable instrument, such as a check, without specifying a particular endorsee, thereby making the instrument payable to the bearer.