ECONOMICS
MARKETS AND PRICES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Any legally set price for a goods or services ____
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Price Ceiling
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Minimum Wage
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Price Floor
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Price Control
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Explanation:
Detailed explanation-1: -The government sets prices to ensure that specific goods and services are sold fairly to every citizen. Price controls on goods can be set by two types: price ceiling and price floor. It forms a bracket where one is the maximum price and the other is the minimum price.
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