A Maximum Price, Set by the Government, That Sellers May

question 170

Multiple Choice

A maximum price, set by the government, that sellers may charge for a good is known as

• A) a price floor.
• B) a price rationing mechanism.
• C) a price ceiling.
• D) a subsidy.

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Definitions:

Hardware Store

A retail business specializing in selling hardware items, such as tools, building materials, and gardening equipment.

Unconditional Right

A legal entitlement or claim that is not subject to any conditions or restrictions.

Inspect

To carefully examine or look over an object, area, or system to ensure it meets certain standards or criteria.

Goods

Tangible personal property or items that are bought, sold, or exchanged in commerce.