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.
About This Topic
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?
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