3
QuizMultiple Choice

Elasticity and Incentives

Question 3 • (Galli)WCA 2221 Civics/Economics 1st nine weeks 26-27

Price controls on goods can be set by

Answer
A
consumers.
B
economists.
C
governments.
D
producers.

Explanation

Price controls are legal limits on how high or low the price of a good may be. Governments set these limits through policies such as price ceilings and price floors. Consumers, economists, and producers may influence prices or advise on policy, but the government establishes official price controls.

AI-written and checked against the verified answer.

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