Price Floors and Ceiling Prices

question 92

Multiple Choice

Price floors and ceiling prices:

• A) both cause shortages.
• B) both cause surpluses.
• C) cause the supply and demand curves to shift until equilibrium is established.
• D) interfere with the rationing function of prices.

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Definitions:

Self-Managed Work Team

A group of employees tasked with a particular job or project, which operates with minimal or no supervision, often responsible for their own management and leadership.

Social Skills

Abilities used to communicate and interact effectively and harmoniously with others, including verbal and non-verbal communication, empathy, and active listening.

Intrinsic Motivation

The drive to engage in an activity for its own sake, enjoying the process and learning rather than for the sake of some external reward.

Social Loafing

The phenomenon where individuals exert less effort when working in groups than when working alone.