Price Floors Are Designed to

question 283

Multiple Choice

Price floors are designed to

• A)establish a minimum allowable price.
• B)allow free market prices to be achieved.
• C)create shortages where none existed before.
• D)none of the above.

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Definitions:

Semi-periphery

Nations that are midway between the core and periphery countries, often exploiting periphery countries but being exploited by core countries.

Peripheral Countries

Nations that are not dominant in the global economy, often characterized by less economic development and dependency on core countries for capital.

Core Countries

Nations, typically developed, that dominate global economic systems, often exploiting less economically developed countries.

Global Equality

The principle of ensuring fair treatment, access, and opportunity for all people around the world, regardless of nationality, ethnicity, gender, or other characteristics.