Price Celing and Price FloorOnline version Test your knowledge on price celing and price floor! by sarah ayyad 1 Price floors are often used in agricultural markets to support farmers. Yes No 2 A price floor sets a minimum price that must be charged for a good or service. Yes No 3 Price floors are always beneficial for consumers. Yes No 4 Price celings always lead to shortages. Yes No 5 Price celings are typically imposed during times of crisis or emergency. Yes No 6 Price celings are a form of government intervention in the market. Yes No 7 Price celings are often implemented to protect consumers from high prices. Yes No 8 Price floors always lead to surpluses. Yes No 9 Price floors can lead to inefficiencies in the market. Yes No 10 A price celing can lead to shortages in the market. Yes No 11 Price floors are often implemented to protect producers from low prices. Yes No 12 A price celing sets a maximum price that can be charged for a good or service. Yes No 13 Price celing and price floor are the same thing. Yes No 14 Price celings are only used in the housing market. Yes No 15 Price floors are set by consumers. Yes No 16 Price floors are only used in the labor market. Yes No 17 A price floor can lead to surpluses in the market. Yes No 18 Price celings are used to encourage competition in the market. Yes No 19 Price celings can result in black markets where goods are sold at higher prices. Yes No 20 Price celings and price floors have no impact on the economy. Yes No
New game