A Price Ceiling Is

question 68

Multiple Choice

A price ceiling is

• A) a minimum price set by government that sellers must charge for a good.
• B) a maximum price set by government that sellers may charge for a good.
• C) the difference between the initial equilibrium price and the equilibrium price after a decrease in supply.
• D) the minimum price that consumers are willing to pay for a good.

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Definitions:

Social Inequalities

The unequal distribution of resources, opportunities, and rights among different social groups, often leading to disparities in wealth, power, and social status.

Functionalist

Pertaining to Functionalism, a theoretical perspective that views society as a complex system whose parts work together to promote solidarity and stability.

Instrumental Roles

Term used in sociology to describe the task-oriented roles in a family or society, primarily focused on providing material support and making decisions.

Expressive Roles

The emotional or supportive tasks in a family or group setting, focusing on nurturing, caregiving, and managing the emotional climate of the household.