Price Controls: True Or False

6 Questions | Total Attempts: 477

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Price Quizzes & Trivia

See how much you know about price controls by answering true or false to these questions!


Questions and Answers
  • 1. 
    Price controls are generally a good way for governments to improve market outcomes.
    • A. 

      True

    • B. 

      False

  • 2. 
    A non-binding price floor causes a change in the market price.
    • A. 

      True

    • B. 

      False

  • 3. 
    A binding price ceiling results in a shortage.
    • A. 

      True

    • B. 

      False

  • 4. 
    A binding price ceiling reduces queuing time for consumers.
    • A. 

      True

    • B. 

      False

  • 5. 
    A surplus may result in an alternative rationing mechanism being developed.
    • A. 

      True

    • B. 

      False

  • 6. 
    The minimum wage is an example of a price ceiling.
    • A. 

      True

    • B. 

      False

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