Price Floors

question 229

Multiple Choice

Price floors

• A) provide free market incentives for producers.
• B) create surpluses by setting the price above equilibrium.
• C) create shortages by setting the price above equilibrium.
• D) are used by advocates of the free market.

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Definitions:

Racial Categories

Classifications of humans into groups based on physical traits, ancestry, genetics, or social relations, often influencing identity and social positions.

Institutional Discrimination

Discrimination that has become part of the structures, processes, and procedures of organizations, leading to the disadvantage of certain groups.

Modelling Agency

A business representing fashion models, working to connect them with clients, including designers, advertisers, photographers, and magazines.

Visible Minority Members

Individuals who belong to a racial or ethnic minority that can be distinguished from the majority through visible characteristics.