Monthly Archives: October 2010

Invisible Hand Blog Post #2

Price ceilings, which is when the government puts a maximum price for a product. This causes shortages as suppliers are not able to set prices high so that they get more profit, there will be some suppliers that will leave … Continue reading

Posted in Economics, Section 2 | Leave a comment

The Invisible Hand Blog Post #1

In our scenario, we received a voice mail from Les Singer who has asked Bill, board as head of his Policy Group of the Department of Energy. He claims that there needs to be a price ceiling for gas due … Continue reading

Posted in Economics, Section 2 | Leave a comment