An Economic Advisory Committee Is Split on a Decision on How

question 99

Multiple Choice

An economic advisory committee is split on a decision on how to react to an export ban by Mexico of avocados.Isaac wants to put a price ceiling on avocados to ensure an adequate demand; Flora wants to put a price floor on avocados to ensure an adequate supply.April claims that doing nothing is the best response.Who understands economics the best?

• A) Isaac
• B) Flora
• C) April
• D) none of them,since none of these policies will organize this disrupted market
• E) Any of the responses will work under the proper circumstances.

---

Definitions:

Consumer Electronics

Electronic devices intended for everyday use by individuals, such as smartphones, televisions, and laptops.

Prestige Products

Items that are perceived as luxurious and of high quality, often associated with social status.

Shopping Products

Goods that consumers purchase after comparing quality, price, and style from several sellers, implying a more deliberate decision-making and selection process.

Unsought Product

A type of product that consumers typically do not think about buying or do not know exists until they see it or need it.