Sugar is one of the most important food ingredients that are used today. Sugar is necessary for the life because it gives energy in the human body, which is required in several human functions. No matter how strict our diet is, but sugar is present in many eating items. In 2009, the retail price of sugar was Rs. 47 per kg. It was the equilibrium price in the competitive sugar market. As sugar is an essential food item so the government decided to provide relief to the sugar consumers by setting its price below the equilibrium level (price ceiling) i.e. Rs. 40 per kg.
In the light of above discussion, logically discuss the consequences of this price ceiling by discussing its impact on the consumers, producers and on the overall society.
Please Discuss here about this GDB.Thanks
Our main purpose here discussion not just Solution
We are here with you hands in hands to facilitate your learning and do not appreciate the idea of copying or replicating solutions. Read More>>
Discussed & be touched with this discussion. After discussion a perfect solution will come in a result at the end.
For Important Helping Material related to this subject (Solved MCQs, Short Notes, Solved past Papers, E-Books, FAQ,Short Questions Answers & more). You must view all the featured Discussion in this subject group.
For how you can view all the Featured discussions click on the Back to Subject Name Discussions link below the title of this Discussion & then under featured Discussion corner click on the view all link.
Or visit this link
Please Click on the below link to see…
P.S: Please always try to add the discussion in proper format title like “CS101 Assignment / GDB No 01 Solution & Discussion Due Date: ___________”
The shortage may be resolved in many ways.One way is "queuing"; people have to wait in line for the product, and only those willing to wait in line for the product will actually get it. Sellers might provide the product only to family and friends, or those willing to pay extra "under the table". Another effect may be that sellers will lower the quality of the good sold. "Black markets" tend to be created by price ceilings.
ECO402 GDB Idea Solution