Price ceiling problems, Chemistry

Assignment Help:

Price ceiling problems:

The persistent shortage created by price ceiling will in turn pose the following problems:

 Rationing

Government may have to apportion the quantity supplied of OQs among buyers who want to consume a greater amount of OQd. This may be done through the issue of coupons which must be surrendered together with cash, to obtain the good.

 Queuing

Whenever the good is available people will form long queues for it. The queues may be physical lines of people outside suppliers' shops typically in the case of essential commodities like drugs, bread, milk, etc. Or tall waiting lists in the case of consumer durables such as cars, television sets, government flats/houses, etc.

 Black (Parallel) Market

Black or parallel markets in which the good will be illegally sold and brought will spring up. In these illegal markets the price at which the good will be sold will even be higher than the equilibrium price.

 Selling at Sellers' Preference

Sellers may choose several ways to sell the god-first come, first-serve, selling to relatives and friends first, etc

 Random Allocation

This is selling by luck or chance. This may defeat the aim of setting the maximum price to ensure that the poor as well as the rich get the good. Selling may to all rich, or all poor.


Related Discussions:- Price ceiling problems

Study of elements of group 16, Q. Study of Elements of group 16? We sha...

Q. Study of Elements of group 16? We shall discuss Group 16 elements, viz., oxygen, sulphur, selenium, tellurium and polonium. These elements are called chalcogens or the ore f

Mention the stages in product life cycle, Q. Mention the stages in product ...

Q. Mention the stages in product life cycle, at which sensory evaluation is used? Initial screening, product optimization, scale up and production are the stages in product lif

Infrared spectroscopy, how we determine the compound is ir active or not . ...

how we determine the compound is ir active or not . and how we determine the polarity of a compound?

What do you understand by replication by dna, (a) Write chemical equations ...

(a) Write chemical equations for the reactions of glucose with (i) Acetic anhydride and (ii) ammoniacal silver nitrate solution. (b) Draw simple Fischer projections of D-g

Organic chemistry, synthesis of di and tri substituted benzenes(symmetrical...

synthesis of di and tri substituted benzenes(symmetrical tribromo benzene, 2-amino-5methylphenol, 3-nitro-4-bromobenzoic acid, 3,4-dibromonitrobenzene, 1,2,3-trimethyl benzene) sta

Edta method of determining hardness of water, Q.   Discuss the EDTA method ...

Q.   Discuss the EDTA method of determining hardness of water.                                                 OR What is hardness of Water? How it is determined by EDTA

The frequency of radiation emitted when the electron falls, The frequency o...

The frequency of radiation emitted when the electron falls from n= 4   to n=1   in a hydrogen atom will be (Given ionization energy of H = 2.18x 10 -18 J atom-1 and h= 6.625x 10-

Determine strongest bond, Among the bonds formed by a chlorine atom with a...

Among the bonds formed by a chlorine atom with atoms of hydrogen, chlorine, sodium and carbon, the strongest bond is formed between (1) H- cl

Determine the percent of hydrozen in a tris buffer, A Tris buffer at pH 6.0...

A Tris buffer at pH 6.0 (here "Tris" is a nickname use for Tris hydroxymethyl amino methane). For the given pK A table is Tris a compound you would select for a buffer at pH 6.0?

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd