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Use the following to answer questions:
Figure: Price Ceiling
-(Figure: Price Ceiling) Refer to the figure. When a price ceiling of $10 is instituted by the government, consumers are able to buy how many units of the product?
Product
A product is any good, service, or idea that can be offered to the market to satisfy a need or want, ranging from tangible items to intangible services.
Brand
The name, term, design, symbol, or any other feature that identifies one seller’s goods or service as distinct from those of other sellers.
American Marketing Association
A professional association for individuals and organizations involved in the practice, teaching, and study of marketing worldwide.
Sellers' Goods
Products or commodities that are put on the market for sale by individuals or businesses.
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