Not enough or too much; it’s a delicate balance. I need to select a country and explore the concepts of price ceiling and price floors and market shortages and surpluses. in a short paper.
from a recent article 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 the 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.