We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Should a price ceiling (limit) be imposed on gasoline prices in the U.S. market Why or why not - Essay Example

Comments (0) Cite this document
If the government implements a price ceiling on the prices of gasoline, the government will be indulged in legally setting an upper cap or a limit on the price at which gasoline can be sold to the consumers. The government should not get involved in the natural process of…
Download full paper
Should a price ceiling (limit) be imposed on gasoline prices in the U.S. market Why or why not
Read TextPreview

Extract of sample
Should a price ceiling (limit) be imposed on gasoline prices in the U.S. market Why or why not

Download file to see previous pages... If price ceiling on gasoline prices are implemented economic efficiency will be lost. Economic efficiency takes place when a particular action results in higher benefits for the society and lower costs. If price ceilings are set and the suppliers decrease the supply, the gasoline will start trading in black and unregulated markets where the suppliers will be charging higher price from the consumers and the taxes and revenue that is earned by the sale and purchase of gasoline by the government will be lost.
Other than black markets, the entire economic system may be negatively impacted by price ceiling on gasoline prices. This is because when there will be shortage of gas, people will have to line up in huge queues in the pursuit of obtaining gas. As a result of this a lot of time will be wasted which the consumers could have invested in positive economic activity and this would result in decline in ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Should a price ceiling (limit) be imposed on gasoline prices in the Essay”, n.d.)
Retrieved de https://studentshare.org/macro-microeconomics/1675232-should-a-price-ceiling-limit-be-imposed-on-gasoline-prices-in-the-us-market-why-or-why-not
(Should a Price Ceiling (limit) Be Imposed on Gasoline Prices in the Essay)
“Should a Price Ceiling (limit) Be Imposed on Gasoline Prices in the Essay”, n.d. https://studentshare.org/macro-microeconomics/1675232-should-a-price-ceiling-limit-be-imposed-on-gasoline-prices-in-the-us-market-why-or-why-not.
  • Cited: 0 times
Comments (0)
Click to create a comment
(Economics major) The factors that influences our current gasoline price. ( crude oil, tax, etc..)
Availability of supply and cost of production may play a big part in establishing its price but not the sole determinant in pegging its price. Other factors play significantly as well. That includes government regulation, taxes imposed, result of mergers, speculation, act of nature and political instability.
9 Pages(2250 words)Essay
The Relationship Between the Retail Price of Gasoline and the World Demand for Crude Oil
Like many commodities being traded in the global market like gold, silver, rice, wheat etc. crude oil is also traded. The main reason for it being traded in the global market is that it’s one of those commodities which is unevenly distributed on the surface of earth.
4 Pages(1000 words)Essay
The Vietnam War
Discussion Before the Vietnam War, the public in America viewed their senators, congressional representatives, public and governmental institutions and universities with great respect. However, there was a drastic shift in these views during the 1960s. When the Vietnam War started in 1955, the majority of the American public backed their government and regarded their intentions as good but as the war dragged on to the next decade with no signs of the way ending in the future, the great financial, social and economic losses incurred by the Americans (Gilbert, 2001).
3 Pages(750 words)Essay
Gasoline Prices
For example, each additional ten cents per gallon adds as much as $14 billion to American gasoline expenses. In order to understand the importance of gasoline for the national economy, it is essential to look at the market and what factors are affecting the price of gasoline.
6 Pages(1500 words)Essay
Does a government imposed price control provide an efficient market
A good example is observed when the government implements rent controls and regulation of gasoline prices (Adams, 35-73). On condition that the price ceiling is set below the equilibrium, the
3 Pages(750 words)Term Paper
The relationship between crude oil prices and gasoline prices
Largely, market prices of gasoline products change whenever crude oil prices change. Policy makers in the oil industry are aware of the influence of this relationship. This paper explores the relationship that exists between the crude oil and the gasoline
5 Pages(1250 words)Essay
Gasoline prices
The idea that this will have a long-term impact on gasoline prices is simply ludicrous, and the only way to actually guarantee a lasting
1 Pages(250 words)Essay
Ban driving of gasoline powered vehicles In U.S
For the last forty years, the Presidents of the United States have many times called for a reduction in the dependence of the country to fossil fuels. The consumption patterns of fossil fuels have utterly failed to honor the fact that the fossil fuels happen to be a finite and non-renewable resource (Borowitz, 1999).
3 Pages(750 words)Essay
The price elasticity of gasoline in the United States has been estimated to be 0.15. if this is so, should profit maximizing gasoline stations raise their prices Explain why or why not
The demand curve of gasoline is said to be elastic. Another important concept is the income elasticity which refers to a change in demand of a certain product (gasoline in this
1 Pages(250 words)Essay
The fast food industry should be regulated in a similar manner to the tobacco industry
They are also readily available, more convenient and quite cheap. Fast food intake leads to obesity, irregular weight gain and increased risks of insulin resistance in the body among other health conditions. Due
4 Pages(1000 words)Essay
Let us find you another Essay on topic Should a price ceiling (limit) be imposed on gasoline prices in the U.S. market Why or why not for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us