Problem
A. What determines the level of prices in a market?
B. Does a price ceiling increase or decrease the number of transactions in a market? Why? What about a price floor?
C. Does a price floor attempt to make a price higher or lower? Explain your answer.
D. Does a price ceiling attempt to make a price higher or lower? Explain your answer.
E. Name some factors that can cause a shift in the demand curve in markets for goods and services.