Economy, asked by Satyawan456, 1 year ago

Explain the effects of price celling

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Answered by sandharjashan
0

Answer:  

Shortage. If price ceiling is set above the existing market price, there is no direct effect. But, if price ceiling is set below the existing market price, the market undergoes problem of shortage. ... On the other hand, demand of the consumers for such commodity increases with the fall in price.

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