Venezuelans organize to overcome food shortages The government of Venezuela controls the price of food and there are shortages of milk, rice, coffee, pasta, sugar, corn flour and cooking oil. Eggs have disappeared from store shelves. Source: www.teleSURtv.net/english, November 27, 2015 The price controls described in the news clip are OA. price floors OB. price ceilings The graph shows the demand and supply of food in Venezuela. Draw a line to show the price control described in the news clip. Draw an arrow at the price control to show the shortage or the surplus created by the price control. Give it the appropriate label. M 60- 50- 40- 30- 20- 10- to 0- Price (bolivars per unit) S 100 ADO A LABEL D 200 300 400 500 600 700 Quantity (units of food) >>> Draw only the objects specified in the question. Next
Venezuelans organize to overcome food shortages The government of Venezuela controls the price of food and there are shortages of milk, rice, coffee, pasta, sugar, corn flour and cooking oil. Eggs have disappeared from store shelves. Source: www.teleSURtv.net/english, November 27, 2015 The price controls described in the news clip are OA. price floors OB. price ceilings The graph shows the demand and supply of food in Venezuela. Draw a line to show the price control described in the news clip. Draw an arrow at the price control to show the shortage or the surplus created by the price control. Give it the appropriate label. M 60- 50- 40- 30- 20- 10- to 0- Price (bolivars per unit) S 100 ADO A LABEL D 200 300 400 500 600 700 Quantity (units of food) >>> Draw only the objects specified in the question. Next
Chapter4: Markets In Action
Section: Chapter Questions
Problem 2SQP
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Transcribed Image Text:Venezuelans organize to overcome food shortages
The government of Venezuela controls the price of food and there are shortages of
milk, rice, coffee, pasta, sugar, corn flour and cooking oil. Eggs have disappeared
from store shelves.
Source: www.teleSURtv.net/english, November 27, 2015
The price controls described in the news clip are
A. price floors
OB. price ceilings
The graph shows the demand and supply of food in Venezuela.
Draw a line to show the price control described in the news clip.
Draw an arrow at the price control to show the shortage or the surplus created by
the price control. Give it the appropriate label.
60-
50-
40-
30-
20-
10-
0-
to
0
Price (bolivars per unit)
100 200 300 400
ADD A LABEL
D
500 600 700
Quantity (units of food)
>>> Draw only the objects specified in the question.
Next
Q
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