Micro: Unit 1.4 -- Government Intervention: Price Controls, Quotas, and Subsidies

Hey Everyone! I'm Mr. Willis, and You Will Love Economics!

In this video, I will:
- Describe how the use of a price ceiling changes price level and quantity in a market, as
well as the pros and cons of price ceilings
- Explain how the use of a price floor changes price level and quantity in a market, as well
as the pros and cons of price floors
- Discuss how the use of a production quota changes price level and quantity in a market,
as well as the pros and cons of quotas and why quotas are used in the product market
- Describe how the use of a per unit subsidy changes price level and quantity in a market,
as well as the pros and cons of subsidies and why subsidies are used in the product
market

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[lesegoym]

Your eyes makes me focus more. Great content.😉❤

[nuraqilah]

i want to ask what are the pros and cons of government intervention in the market for necessity goods like egg, fish and chicken. Consider the effects to both consumers and producers.

[shaikhmullah-ud-din]

If the government sets a price ceiling or floor, why won't the market forces, or invisible hand drive then back to equilibrium?

[DndOoSh]

thank you very much that was very helpful