Maximum price that something can have Usually government controlled Gas (post crisis) Rent (rent...

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Floors and Ceilings

Transcript of Maximum price that something can have Usually government controlled Gas (post crisis) Rent (rent...

Page 1: Maximum price that something can have  Usually government controlled  Gas (post crisis)  Rent (rent control in New York City and other areas)  Pay.

Floors and Ceilings

Page 2: Maximum price that something can have  Usually government controlled  Gas (post crisis)  Rent (rent control in New York City and other areas)  Pay.

Maximum price that something can have

Usually government controlledGas (post crisis) Rent (rent control in New York City and other areas)

Pay to play (family max in some school districts)

Price ceiling

Page 3: Maximum price that something can have  Usually government controlled  Gas (post crisis)  Rent (rent control in New York City and other areas)  Pay.

Minimum price that something can have

Government will controlMinimum wage is probably one of the best examples

Why do we have a minimum wage?

Price Floor

Page 4: Maximum price that something can have  Usually government controlled  Gas (post crisis)  Rent (rent control in New York City and other areas)  Pay.

Ohio Minimum Wage 2012: $7.70/hour

Federal Minimum Wage 2012: $7.25/hour

Tipped Employee Ohio Minimum Wage 2012: $3.85/hour plus tips

Minimum Wage 2012