Social Goals vs. Market Efficiency by Kate Hudack https://padlet.com/katherineh1596/zdc4r6moaepk Kate Hudack, Morgan Miracle, Darlene, Lucas Ricks en-us 2015-03-26 16:41:22 UTC 2024-01-06 19:24:01 UTC hello@padlet.com Vocabulary  morganm7014 https://padlet.com/katherineh1596/zdc4r6moaepk/wish/102665997 Price Ceiling: a maximum legal price that can be charged for a product. EXAMPLE: rent control
Minimum wage: the lowest wage that can be paid to most workers.
Price floor: lowest legal price that can be paid for a good or service.
Nonrecourse loan: a load that carries neither a penatlty nor further obligation to repay if not paid back.
Deficiency payment: is a check sent to the producers that makes up the difference between and actual market price and the target price.
Target price: essentially a price floor for farm products.]]> 2016-03-24 18:38:18 UTC https://padlet.com/katherineh1596/zdc4r6moaepk/wish/102665997 Goals in Market Economy: katherineh1596 https://padlet.com/katherineh1596/zdc4r6moaepk/wish/102666880 The goals most compatible with a market economy are freedom, efficiency, full employment, price stability, and economic growth. ]]> 2016-03-24 18:42:51 UTC https://padlet.com/katherineh1596/zdc4r6moaepk/wish/102666880 Universal Generalizations  morganm7014 https://padlet.com/katherineh1596/zdc4r6moaepk/wish/105154088
  • To achieve one or more social goals, the government sometimes sets prices.
  • Price ceilings and price floors can distort market outcomes.
  • Price ceilings and price floors prevent equilibrium prices in the market.

    • ]]>     2016-04-11 18:23:23 UTC https://padlet.com/katherineh1596/zdc4r6moaepk/wish/105154088     Markets speak for all buyer and sellers when prices move up or down significantly.  katherineh1596 https://padlet.com/katherineh1596/zdc4r6moaepk/wish/105155202 In an example, individual investors made decisions on the likely outcome of the new policy and sold stocks for cash or gold. Their actions influenced stock prices and communicated to the government that investors did not favor the policy. ]]> 2016-04-11 18:26:09 UTC https://padlet.com/katherineh1596/zdc4r6moaepk/wish/105155202 katherineh1596 https://padlet.com/katherineh1596/zdc4r6moaepk/wish/105157246 2016-04-11 18:31:12 UTC https://padlet.com/katherineh1596/zdc4r6moaepk/wish/105157246 Regulating Prices morganm7014 https://padlet.com/katherineh1596/zdc4r6moaepk/wish/105157376 The government can regulate prices to try and achieve the economic and social goals of equity and security.]]> 2016-04-11 18:31:37 UTC https://padlet.com/katherineh1596/zdc4r6moaepk/wish/105157376 morganm7014 https://padlet.com/katherineh1596/zdc4r6moaepk/wish/105159075 2016-04-11 18:36:56 UTC https://padlet.com/katherineh1596/zdc4r6moaepk/wish/105159075