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Price floors and market shortages and surpluses

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Reference no: EM132473150

Please select a country and explore the concepts of price ceiling and price floors and market shortages and surpluses.

Locate a recent article (published within the last year) that discusses either the price ceiling or price floor, and market shortages and surpluses of a good or service from your selected country at a macro level.

Analyze your selected country's good or service and determine whether it has a market shortage or surplus. Include the following in your discussion.

  • Identify the country and the good or service selected. 
  • Analyze supply and demand curves. 
  • Examine the concepts of price ceilings and price floors. 
  • Explain the causes and predict the effect of changes in demand and supply on the equilibrium price and quantity. 
  • Differentiate between consumer surplus and producer surplus.
  • Discuss whether your selected good or service results in a market surplus or market shortage and explain why.

(You can use the scholarly articles, newspapers, new stations, or other credible sources to locate an article.)

Reference no: EM132473150

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