if, however, the price ceiling is set at a level lower than the equilibrium level, there will be a shortage of rice on the market:
Suppliers will be induced to violate the price ceiling because they know that there is demand in the market at a higher price point. At any point between the price ceiling and the equilibrium price the suppliers will still be able to sell rice:
The government likely implemented the price ceiling in order to ensure that the poorest people can afford to eat rice. The government would need to support this market distortion in two ways. The first is that the government would likely need to enforce the price ceiling strictly, as merchants would otherwise have incentive to exceed...
The definition of democracy intensifies the ideals of the individual, as it regards the individual as a very important cog in the wheel of representation. In fact as the work points out the collective idea of social unrest lies not in individualism but in the fact that the individual ideal was to strong for third world political institutions to bear up under. (30) Yet, the individualistic ideals of today's society,
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