Economics Multiple Choice Question – 28 August 2018

A rent ceiling results in a shortage. As a result, which of the following do you expect?

Select ONE answer:

1. Discrimination as landlords choose their tenants, possibly based on race, age, or gender.
2. The shortage will persist as long as the ceiling is in effect.
3. A black market for apartments whereby higher rents are obtained through various other charges.
4. All of the above would be expected.

Explain how the price mechanism works in the context of potential market growth:……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is a multiple choice question is suitable for Economics KS5 classes.

The answer is 4

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