https://padlet.com/jdtsayer/seu5w9bd9bnzh44 Made with charm en-us 2021-04-07 01:04:07 UTC 2025-10-26 16:07:11 UTC hello@padlet.com https://padlet.net/icons/png/1f4b8.png jdtsayer https://padlet.com/jdtsayer/seu5w9bd9bnzh44/wish/1389562389 This video by Andrew Hingston is very informative in a short period of time. He discusses what price ceilings are and breaks it down in lamens terms. He describes having an upward sloping supply curve and downward sloping demand curve having the market equilibrium where they meet. With a price ceiling, the equilibrium moves to where the price ceiling max is. 

I liked this video as he helped really explain what happens when a price ceiling is enforced and breaks it down super easily for me. He discusses consumer surplus, producer surplus and dead-weight losses better than any other video we watched.]]> 2021-04-07 01:05:01 UTC https://padlet.com/jdtsayer/seu5w9bd9bnzh44/wish/1389562389 jdtsayer https://padlet.com/jdtsayer/seu5w9bd9bnzh44/wish/1389583137 Lukus Alexander and Jamie Sayer are here to help describe and teach you guys what Price Ceilings are! They're quite important and help keep the prices down when needed.]]> 2021-04-07 01:14:04 UTC https://padlet.com/jdtsayer/seu5w9bd9bnzh44/wish/1389583137 LukusAlexander https://padlet.com/jdtsayer/seu5w9bd9bnzh44/wish/1389681508 A price ceiling is a legally mandated price. Price ceiling keep the price at a certain level depending on what industry it trying to level off. if the price ceiling is below the price equilibrium then its binding. if its higher the equilibrium then its nonbinding.
 
 Nonbinding ceilings act as a safeguard. to protect it in the future. to defend against an increase in demand. price ceilings defend against spikes in the market that could increase past the equilibrium. the
price ceiling is where the demand for a product intercepts with the price equilibrium.

]]> 2021-04-07 01:53:15 UTC https://padlet.com/jdtsayer/seu5w9bd9bnzh44/wish/1389681508 LukusAlexander https://padlet.com/jdtsayer/seu5w9bd9bnzh44/wish/1393477291 This video is talking what would happen if the gas price were dropped below the equilibrium in California. He talks about how lowering the price of gas would be what everyone would vote for but, it would hurt the market by moving away from the equilibrium. the lower the price gets the less that is produced. 

competitive markets must be left alone because if the government comes in and try to medal with the market, they me destroy it in the process. Therefore a price ceiling is so important as it keeps the price at a realistic level where everyone can afford it, and everyone still gets paid at the top end.

]]> 2021-04-07 21:46:37 UTC https://padlet.com/jdtsayer/seu5w9bd9bnzh44/wish/1393477291 jdtsayer https://padlet.com/jdtsayer/seu5w9bd9bnzh44/wish/1393478419 This video discusses about Price Ceilings and some of the factors that happen because of them. The example he used was gasoline and by putting a price ceiling on gas, it creates a situation in which people aren't paying with money per se, they're paying with time. 

I found this video interesting as he used a real life example to really explain it well. He broke down that while price ceilings are important for some situations, they sometimes end up being worst as an economic system and create more stress/loss for the consumer.]]> 2021-04-07 21:47:15 UTC https://padlet.com/jdtsayer/seu5w9bd9bnzh44/wish/1393478419 jdtsayer https://padlet.com/jdtsayer/seu5w9bd9bnzh44/wish/1393505050 Investopedia does a great job of breaking down economic terms and it does the same with Price Ceilings. It describes the basics real well and also talks about examples including Rent Ceilings from the 1940s.  It also talks about how Price Ceilings are usually government-mandated.

I liked this website more than other websites as it really broke down the negative aspects of Price Ceilings well. While others talked about what they are, Investopedia actually described why including shortages, extra charges or lower quality of products.]]> 2021-04-07 22:02:01 UTC https://padlet.com/jdtsayer/seu5w9bd9bnzh44/wish/1393505050 LukusAlexander https://padlet.com/jdtsayer/seu5w9bd9bnzh44/wish/1393509759 This article talks about how the government sets price ceilings because they need to keep certain essential products at a reasonable price for the people of the specific nation. if its set higher then the equilibrium there is no real effect. its when the price ceiling is set to low is when a shortage accuses and hurts everyone. 

When a price shortage happens it encourages the black market where people start trading or charging insane amount for an item like what happened with hand sanitizer at the beginning of the covid 19 pandemic. When the item is in a shortage it affects the people who need the item in a time sensitive manner. 

]]> 2021-04-07 22:04:25 UTC https://padlet.com/jdtsayer/seu5w9bd9bnzh44/wish/1393509759 jdtsayer https://padlet.com/jdtsayer/seu5w9bd9bnzh44/wish/1393525909 This website describes what happens when a price ceiling is enforced (rent control in Albany), some of the after effects and why price effects happen (including potential voters uniting behind political proposals). They describe the rent control situation and say how it doesn't usually help renters, as Landlords can just sell their land for developments, have less funds for repairs or

I enjoyed reading this website as it used interactive graphs to help explain the situation and the potential outcomes. By following along with the graph it helps paint a picture and show what would eventually happen to renters in this scenario. ]]> 2021-04-07 22:13:52 UTC https://padlet.com/jdtsayer/seu5w9bd9bnzh44/wish/1393525909 LukusAlexander https://padlet.com/jdtsayer/seu5w9bd9bnzh44/wish/1393539266 This website talks about how the price ceiling is in affect to protect the consumer. An example of an active price ceiling is rent control in the USA. After WW2, a surge of solders returned to the states to start families but due to high demand for housing the landlords increased the price of rent. 

This price surge left solders unable to afford housing and soon after the government created the ceiling so all solders could find reasonably priced housing after they came home from war. Super low ceilings can also destroy businesses and create a crisis in the affected industry.

]]> 2021-04-07 22:21:24 UTC https://padlet.com/jdtsayer/seu5w9bd9bnzh44/wish/1393539266 LukusAlexander https://padlet.com/jdtsayer/seu5w9bd9bnzh44/wish/1393556707 This picture shows how the price ceiling helps keep the market price at a reasonable amount. It also shows how the price equilibrium is set and controlled. The price equilibrium is meant to help the consumer afford products that they cannot live without.]]> 2021-04-07 22:32:22 UTC https://padlet.com/jdtsayer/seu5w9bd9bnzh44/wish/1393556707 jdtsayer https://padlet.com/jdtsayer/seu5w9bd9bnzh44/wish/1393565801 This picture shows everything going on within Price Ceilings such as the consumer surplus (those who purchase the items gain extra), excess demand (people that won't be able to buy the product) and more.]]> 2021-04-07 22:38:06 UTC https://padlet.com/jdtsayer/seu5w9bd9bnzh44/wish/1393565801 jdtsayer https://padlet.com/jdtsayer/seu5w9bd9bnzh44/wish/1393578077 1. I enjoyed the fact that Price Ceilings were essentially a last-resort option and in order to have a free-market they couldn't be used without repercussions.

2.  An example of price ceilings includes hand sanitizer in France during the start of the pandemic. To help control price gouging (with examples of hand sanitizer reaching $20 a bottle), France created a Price Ceiling on hand sanitizer after social media posts started circulating of stores selling it extremely marked up.]]> 2021-04-07 22:45:41 UTC https://padlet.com/jdtsayer/seu5w9bd9bnzh44/wish/1393578077 LukusAlexander https://padlet.com/jdtsayer/seu5w9bd9bnzh44/wish/1393584221 3) If I could pass one bit of knowledge to family member it would be that the price equilibrium is what is holding all markets at a reasonable price and without it everything would be completely unaffordable. As well that that the price ceiling is only applied to essential goods.

]]> 2021-04-07 22:49:20 UTC https://padlet.com/jdtsayer/seu5w9bd9bnzh44/wish/1393584221