Minimum price

IB Economics: Minimum price

This lesson focuses on the second part of price controls, when a government imposes a minimum price on a good or service. The impact of a price floor on the market for a good or service? Why do governments set a minimum price for certain products?Lesson time: 1 hourLesson objectives: Explain why governments impose price floors, and describe examples of price floors, including price support for agricultural products...


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