When the Government Sets a Maximum Price That Can Be

question 112

Multiple Choice

When the government sets a maximum price that can be charged for a good or service, it creates

• A) a price support.
• B) a price floor.
• C) a white market.
• D) a price ceiling.

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Definitions:

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Social Entrepreneurship

The practice of developing, funding, and implementing solutions to social, cultural, or environmental issues.

Microloans

Small loans offered to people with little to no credit history or collateral, typically aimed at enabling entrepreneurship or self-employment in developing countries.

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Assets pledged by a borrower to secure a loan or other credit, and subject to seizure in the event of default.