Economics Price Floors and Ceilings Economics

[LaRose0]

thumbs up if you said 'right' at 0:13 lol

[Calida55]

Thank you so so so much

[proaussiegamer]

cheers mate this really helped me out! :)

[McTwisted999]

thx for the help in price ceilings it was a huge help. however... however. u skimmed over price floor way to much. actually i think u skipped it. u really didnt explain it at all. im still lost and i gotta keep searching for more videos.

[armanone]

Professor,

What are potential reasons that a government might collude with private corporations to invade sovereign nations to permit such businesses to steal the resources of those countries and then not even enact a price ceiling on the windfall profits of these corporations that result in recession for the people who the government is supposed to represent?

Thank you.

[economicsfun]

@armanone that is a good question! The answer is corrupt governments of course and politicians taking campaign contributions (bribes) from these same corporations. In the past it was just monarchs keeping all the loot (Spanish, Portuguese, British, French, so on and so forth).

[boblee666]

@armanone dam thats some hardcore english. 

[Dublian]

The purple area that you explained as being an addition to consumer surplus is incorrect. That area is actually lost resources.

[economicsfun]

Minimum wage is a good example of a price floor which will cause unemployment. The supply of available workers will be greater than the demand of workers.

Price supports for agriculture products is another example.

[dannystud]

can you give examples of price floors please. thank you.

[camo0222]

@dannystud the rent that land lords are able to charge..

[apex001]

Hahaha he got fucken confused

hes like heres a summary:

shortages (ceiling)

surplus (floor)

ahhhhhhhhhhhhhhh causes a (choking) floor setting (crap i should have known this not just read it of some paper to try to sound smart)

good stuff though

[sarabalila]

Thank You very much!!

It is very useful!!

[tombasa]

Thanks