A Binding Price Ceiling Will Have the Following Consequences

question 33

Multiple Choice

A binding price ceiling will have the following consequences:

• A) There will be downward pressure on prices until quantity demanded equals quantity supplied.
• B) There will be upward pressure on prices until quantity demanded equals quantity supplied.
• C) There are no consequences to a binding price ceiling.
• D) The quantity demanded will always exceed the quantity supplied.
• E) The quantity demanded will always be smaller than the quantity supplied.

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Definitions:

Business Processes

Sets of activities and tasks that organizations use to develop, deliver, and manage products or services efficiently.

Resistance To Change

Refers to the opposition or reluctance of individuals or groups to alter their behaviors, processes, or structures.

Fostering Change

The act of encouraging or promoting adaptations or transformations within an organization, community, or individual's behavior and practices.

Employee Empowerment

A management philosophy that emphasizes giving employees the autonomy, resources, and skills to make decisions within their areas of responsibility.