Price+controls

Price controls are often established when governments are under considerable pressure to protect the interests of consumers (max. price controls on necessities- food, rent even fuel (see Nigeria)), or to protect the interests of key producers (minimum price schemes in agricultural markets). Price controls often lead to more problems than they are worth.

 HL students only:
 * Introductory exercise: Why install price controls in post-revolution Libya? Article: & questions:[[file:murphonomics/Group task from Economist.doc|Group task from Economist.doc]]
 * [[file:Price controls-notes.doc]]
 * [[file:3. Minimum Wage and the Labour Market.docx]]
 * Practice Multiple Choice: [[file:Sample Multiple Choice.pdf]]
 * HL students- Quantitative Analysis: [[file:HL Mathematical consideration of price controls.docx]]
 * HL students- Test your understanding:
 * [[file:price controls questions.doc]]
 * HL students- Test your understanding: [[file:Priceceilingpracticequestion.doc]]