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Question Practice

Why might a price ceiling lead to a black market?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Economics
Introductory Microeconomics
Market Equilibrium
Question Bank

Why might a price ceiling lead...

Single Answer MCQ
Q-00089607

Why might a price ceiling lead to a black market?

1

Consumers demand more than is available

2

Producers will always sell at ceiling price

3

Excess supply is created

4

Equilibrium is achieved

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What is the equilibrium price in a perfectly competitive market?

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