In Theory, Zoning Laws Are Enacted to Ensure That ________

question 54

Multiple Choice

In theory, zoning laws are enacted to ensure that ________.

• A) specific standards of housing construction will be satisfied
• B) low-income people will be kept out of wealthy communities
• C) cultural minority groups are prevented from buying homes in affluent neighborhoods
• D) zero population growth will be maintained in counties

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Definitions:

Shortage

A market condition where the demand for a product exceeds its supply at a particular price.

Surplus

is a situation in which the quantity of a good or service available exceeds the quantity demanded at the current price.

Price Ceiling

A government-imposed limit on how high a price can be charged on a product or service, intended to protect consumers.

Price Floor

A government-imposed minimum price charged for a good or service, typically above the equilibrium price, to prevent prices from falling too low.