Price Controls: Floors and Ceilings
Evaluating the impact of government-imposed price floors and price ceilings on market outcomes.
Key Questions
- Analyze the unintended consequences of price ceilings, such as shortages.
- Evaluate the effectiveness of price floors in supporting producers.
- Predict the development of black markets in response to price controls.
Ontario Curriculum Expectations
Suggested Methodologies
Ready to teach this topic?
Generate a complete, classroom-ready active learning mission in seconds.
More in Price Discovery: Supply and Demand
Demand: Determinants and Shifts
Understanding the law of demand and the factors that cause the demand curve to shift.
2 methodologies
Supply: Determinants and Shifts
Understanding the law of supply and the factors that cause the supply curve to shift.
2 methodologies
Market Equilibrium and Price Determination
The mechanics of price determination and the role of the price mechanism in clearing markets.
2 methodologies
Changes in Equilibrium
Analyzing how shifts in supply and demand curves affect equilibrium price and quantity.
2 methodologies
Price Elasticity of Demand
Measuring the responsiveness of consumers to changes in price and income.
2 methodologies