What Will Happen in a Market Where a Non-Binding Price

question 68

Multiple Choice

What will happen in a market where a non-binding price ceiling is removed?

• A) There will be downward pressure on the price in the legal market.
• B) The products sold will improve in quality and become more plentiful.
• C) Sellers will face a reduced incentive to sell the product.
• D) The price and quantity will not change in the legal market.
• E) There will be increased pressure to buy and sell the good on the black market.

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Definitions:

Raymond Cattell

was a psychologist known for his work in personality theory, including the development of the 16 Personality Factor (16PF) questionnaire.

Secondary Traits

Personality characteristics that are less consistent and not as deeply ingrained as primary traits, often influenced by specific contexts.

Traits

Characteristic patterns of thought, emotion, and behavior that are relatively stable over time.

Gordon Allport

A psychologist known for his theory of personality traits and the study of the individual.