1. Increased demand for the commodity, since the price is lower
2. Reducing the supply of the commodity, since people buy more of it, and it discourages production of that commodity due to lower profits
Quote from Economics in One Lesson 👇
Mbitcoiner on Nostr: Price controls always bring about 2 consequences: 1. Increased demand for the ...
Price controls always bring about 2 consequences:
1. Increased demand for the commodity, since the price is lower
2. Reducing the supply of the commodity, since people buy more of it, and it discourages production of that commodity due to lower profits
Quote from Economics in One Lesson 👇
1. Increased demand for the commodity, since the price is lower
2. Reducing the supply of the commodity, since people buy more of it, and it discourages production of that commodity due to lower profits
Quote from Economics in One Lesson 👇