Government and Prices: Why Intervene?
Students will explore basic reasons why governments might get involved in setting prices for certain goods or services, and discuss simple examples of such interventions.
Key Questions
- Why might the government set a maximum price for something, like hawker food?
- Why might the government set a minimum price for something, like wages?
- What are some simple effects when the government tries to control prices?
MOE Syllabus Outcomes
Suggested Methodologies
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