A Market Consequence of the Establishment of a Price Floor

question 68

Multiple Choice

A market consequence of the establishment of a price floor program is that the price will be:

• A) too low and an excess supply will result.
• B) too low and a shortage will result.
• C) below the market equilibrium price.
• D) too high and an excess supply will result.

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Definitions:

Demographic Characteristics

Attributes of populations that can be measured statistically, such as age, gender, income, education, and ethnicity.

Stage Of Change

A concept from the Transtheoretical Model which describes the phases an individual goes through in the process of altering behavior.

Temptations

Desires or impulses leading individuals to perform actions they may later regret, often in reference to breaking personal or societal rules.

Relapse

A regression or return to a previous state of health or behavior, often used in the context of substance abuse or mental health.