Flexible Prices in our Economy

Description

Note:  This Discussion Board has two requirements.  Requirement 1:  Explain why it is important that prices are flexible in our economy? What are the implications if the government started to control prices for products, how would this influence buying?  Requirement 2: Define price ceiling and price floor and give an example of each. Which leads to a shortage? Which leads to a surplus? Why? Discussion Board POSTING REMINDERS: When you make your initial post, please fully answer the question and make substantive responses – i.e. at least 600 words that really dive into the topic and show that you’ve read the text and done the research to support your opinions. Apply appropriate examples that illustrate your points – feel free to bring your work experiences into the discussion. It helps us all learn when we can relate our past work experiences to what we’re learning here in the discussions. You may not use any quoted material even if sources are cited. Please make sure all posts are written entirely in your own words.