Explore the challenges and consequences associated with price ceilings, or maximum price controls, that governments sometimes impose to address affordability issues for certain goods or services with economist Ryan Bourne. As part of our Fundamentals of Economics video series, Bourne contextualizes the history of price controls and how their use may have unintended consequences. Designed for high school students, this video may be utilized to spark conversation in conjunction with an AP economics class or as part of our lesson, Price Controls: Unintended Consequences in Action.
Discussion question suggestions:
- Define price controls and why governments impose them.
- Based on the video, what are the implications of price ceilings on economic activities and why do they occur?
Related Lesson: Price Controls: Unintended Consequences in Action