Economy, asked by vandanapayasi11, 4 months ago

define price floor and price ceiling ?

Answers

Answered by smrutipratikshya27
19

Answer:

A price ceiling keeps a price from rising above a certain level (the “ceiling”), while a price floor keeps a price from falling below a certain level (the “floor”). This section uses the demand and supply framework to analyze price ceilings.

Answered by Somya2861
7

Explanation:

\huge{\underline{\mathtt{\red{ƛ}\pink{N}\green{S}\blue{W}\purple{E}\orange{R}}}} :)  \bold \purple♡

Price Floor :

A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product, good, commodity, or service. A price floor must be higher than the equilibrium price in order to be effective.

.

Price Celling :

A price ceiling is a government- or group-imposed price control, or limit, on how high a price is charged for a product, commodity, or service. Governments use price ceilings to protect consumers from conditions that could make commodities prohibitively expensive.

.

Hope it helpful..☃️

#Somya hEre⭐️

Similar questions