Economics Price Floors and Ceilings Economics

Tutorial on Price Floors, Price Ceilings, Deadweight Loss, Consumer Surplus, Producer Surplus

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• Price Floors
• Price Ceilings
• Economics
• Principle of Economics GCSE
• microeconomics
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[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).

[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.

[LaRose0]

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

[boblee666]

@armanone dam thats some hardcore english.

[camo0222]

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



[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.

[Dublian]

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