What Will Happen in a Market Where a Binding Price

question 162

Multiple Choice

What will happen in a market where a binding price floor is removed?

• A) The products sold will become scarcer.
• B) There will be upward pressure on the prices.
• C) There will be downward pressure on the prices.
• D) The price or quantity of the product sold in the legal market will not change.
• E) There will be increased pressure to buy and sell the good on the black market.

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Definitions:

Martha Nussbaum

A contemporary philosopher and academic who has contributed significantly to political philosophy, ethics, and the understanding of human emotions.

Ethics

The branch of philosophy that deals with questions about morality, including the formulation, justification, and recommendation of concepts of right and wrong behavior.

Feminist Ethics

An approach to ethics that prioritizes the experiences, interests, and welfare of women, and seeks to address and rectify the inequalities, biases, and power imbalances that disadvantages women.

Unified

Combined into a single entity or made consistent and coherent; often refers to processes, systems, or groups that operate together seamlessly.