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What Is the Rationale Behind the Strategy of Building Checks

question 36

Essay

What is the rationale behind the strategy of building checks and balances into the Constitution? Give examples of some of the most important checks.


Definitions:

Price Ceiling

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

Price Floor

A minimum price set by the government for certain goods and services, intended to ensure fair conditions for producers.

Shortage

A situation where demand exceeds supply, often leading to rising prices and unmet consumer needs.

Surplus

An excess of income or assets over expenditure or liabilities in a given period, often referring to profit or the amount of goods produced over what is needed.

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