Welcome to the Knowledge Mouse Online Quiz
Price floors
| Questions |
Answers |
| Use a diagram to explain the effects a price floor has on the market. |
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| What is a real lofe example of a price floor? |
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| What are five problems with a price floor? |
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| What are the effects of a price floor on market stakeholders? (consumers, producer, workers, government) |
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| What are the three methods goverments can use to deal with the surplus? |
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| Draw a graph of a price floor showing the welfare loss (and describe the loss of consumer and producer surplus) |
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