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Title pageTitle of the paperName of the author Email AddressContentIntroduction…………………………………………………………………………...pageSubtitle 1 ……………………………….………………….………………………… pageSubtitle 2 ……………………………….………………….………………………… pageConclusion………………………………………………………………………....... pageReferences………………………………………………………………………....... pageTitle of the paper Abstract [optional] Introduction [Introduction goes here.] [the purpose of the paper]Price ControlsI do not support gas price controls, or more specifically, price ceilings on gasoline because they do not help the economy in the long run. The laws of supply and demand dictate that the market itself should be the determining factor of prices, which change with the supply and demand of specific goods in the market. A couple factors such as the negative effects on the Law of Supply, and the hidden costs to customers make price ceilings an unpopular choice for most economies.Within the Law of Supply, certain determinants are affected when price controls are imposed. Although it may not be apparent in the short-run, price ceilings will limit the number of producers entering the market due to the increased difficulty of making a profit because of the prices imposed on their goods. In addition to limiting the number of producers, price ceilings reduce the need to be competitive, which leaves companies little incentive to increase efficiency and innovative initiatives in the way they produce and procure their products to lower the prices themselves.Price Ceiling on OilIn the past, such as the price ceiling on oil during the 1970’s in the United States, price controls created disequilibrium between supply and demand which resulted in a shortage of gasoline during that time. This meant that those that were willing and able to purchase gas could not do so. With the intent on keeping prices down, customers often pay hidden costs that are not related to prices (Ellig, 2003). Long waits in line, increased stress through competitive acquisition of the limited goods, and the inability to purchase those goods regardless of financial standing takes its own toll on the economy.ConclusionHistory has already showed us the results of price controls in the market. Although the long-term effects may not be apparent, such as companies shutting down because of its inability to maintain the controlled prices and the unemployment that follow it is real. Artificially changing the laws of supply and demand and the additional non-monetary costs to the customers can lead to a bigger problem than just higher gas prices. The market should be allowed to pursue it’s equilibrium without any interference. Bibliography/References[Type references alphabetically; format APA]Last Name, First Initial. Middle Initial. (year). Name of article in sentence case: If there is a subtitle, it should also be in sentence case. Name of Journal in Title Case, volume(issue), first page-last page. Retrieved Month Day, Year, from name of database (if applicable) and specific URL.Ellig, Jerry (2003, January 28). Competition and Effects of Price Control. Retrieved May 2, 2008, from Federal Trade Commision Web site: http://www.ftc.gov/be/v030005.shtm
Week 6: Money, Banking and Monetary Policy - Assignments

Week 6: Money, Banking and Monetary Policy - Assignments

Question # 00017411 Posted By: 247acr Updated on: 06/11/2014 01:26 PM Due on: 06/12/2014
Subject Economics Topic General Economics Tutorials:
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I need an essay for my week 6 and am tight on time, because I have to travel for work. Can I ask someone to help me do this?
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    Tutorial # 00016887 Posted By: mac123 Posted on: 06/12/2014 09:41 PM
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