Price Ceiling definition Open Split View ShareCite Price Ceiling means any maximum price payable to the Supplier in relation to any Requirement as specified by the Customer as part of the award procedure for a Service Agreement pursuant to Clause 4; Sample 1Sample 2Sample 3Generate with AI ...
For the measure to be effective, the ceiling price must be below that of the equilibrium price. The ceiling price is binding and causes the equilibrium quantity to change – quantity demanded increases while quantity supplied decreases. It causes a quantity shortage of the amount Qd – Qs. In ...
Price Ceiling Definition in Economics A storm is coming, and residents are desperately trying to get the supplies they need. They don't know how long they will be stuck at home. They grab water from shelves and pump as much gas as they can fit in their cars and portable gas cans. ...
A price ceiling puts a limitation on the pricing system of sellers aiming to guarantee fair business practices. Such a government intervention is typically appropriate during periods of abnormal economic activity like wars, natural disasters and so on. During such periods, the supply of certain basic...
A price ceiling is the maximum price a seller can legally charge a buyer for a good or service.
The highestpricefor a good or service permitted by a government. A government may impose a price ceiling to protect consumers or to combatinflation. Manyeconomistsbelieve setting price ceilings is economicallyinefficientand a better response is to find a way to increase thesupplyof a good or servi...
Definition 2 : Price ceiling 价格上限 Price ceiling is the maximum price sellers are allowed to charge for a good or service.Price ceilings are typically imposed during crises—wars, harvest failures, natural disasters— because these events often lead to sudden price increases that hurt many peopl...
Learn the price ceiling definition in economics. See a price ceiling example to compare the difference between a price ceiling vs price floor. Related to this QuestionWhat is price ceiling? Explain its implications. Explain the meaning of price floor. How would you explain the meaning of the mi...
price ceiling.A definition of the term "price ceiling" is presented. It refers to the highest price that a buyer is willing to pay.EBSCO_bspBloomsbury Business Library Business & Management Dictionary
Learn the price ceiling definition in economics. See a price ceiling example to compare the difference between a price ceiling vs price floor. Related to this Question What are the implications of mimimum price ceiling? What are some of the unintended consequences of a price ceiling?