Podcast
Questions and Answers
Is a controlled market one where there is intervention by the state or other agencies in determining what goods are to be produced, distributed, or the prices at which they may be obtained?
Is a controlled market one where there is intervention by the state or other agencies in determining what goods are to be produced, distributed, or the prices at which they may be obtained?
True (A)
Do some governments intervene in the market and set ceiling prices on basic items such as bread, milk, cheese, flour etc.?
Do some governments intervene in the market and set ceiling prices on basic items such as bread, milk, cheese, flour etc.?
True (A)
In a free market, manufacturers are not free to produce whatever products they presume would be demanded by consumers without any intervention by the state.
In a free market, manufacturers are not free to produce whatever products they presume would be demanded by consumers without any intervention by the state.
False (B)
Is a controlled market one where the price of a good is determined by the forces of demand and supply?
Is a controlled market one where the price of a good is determined by the forces of demand and supply?
Do some governments intervene in the market and set ceiling prices on basic items such as bread, milk, cheese, flour etc. to keep prices affordable for lower socio-economic groups?
Do some governments intervene in the market and set ceiling prices on basic items such as bread, milk, cheese, flour etc. to keep prices affordable for lower socio-economic groups?
In a free market, the demand and supply interact to form prices without any interference from the state or other agencies?
In a free market, the demand and supply interact to form prices without any interference from the state or other agencies?
Is a controlled market one where there is no intervention by the state or other agencies in influencing suppliers or consumers?
Is a controlled market one where there is no intervention by the state or other agencies in influencing suppliers or consumers?
Do some governments set ceiling prices on basic items to keep prices affordable for lower socio-economic groups?
Do some governments set ceiling prices on basic items to keep prices affordable for lower socio-economic groups?
In a free market, the price of a good is determined by the forces of demand and supply?
In a free market, the price of a good is determined by the forces of demand and supply?
