INQUIZITIVE Chapter 5: Price Controls Page 153 5.2.What effects do price ceiling

Question

INQUIZITIVE Chapter 5: Price Controls Page 153 5.2.What effects do price ceilings have on economic activity? Fill in the blanks to complete the passage regarding government price controls imposed during natural disasters. Drag wordys) below to fill in the blankfs) in the passage. If price does not have the ability to adjust when demand increases a the product. Devastated communities are affected by price gouging legislation, as they must depend there will be the of others and sluggish government action. activity is no longer a form of mitigating poor conditions. generosity*posiivelyentrepreneurial surplusnegativelystate" nexperience shortage expertise

Explanation / Answer

Shortage of the product.

Positively affected by price gouging legislation

generosity of others

entrepreneurial activity

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