Friday, February 15, 2013

Price Floor Powerpoint---You can bet the Farm on this one!!!

Price Floors are another example of government intervention into the "free" market. It is an effort to set a price for a good or service ABOVE what the marketplace dictates/suggests the price should be.

The two prominent examples are the Minimum Wage and prices received by farmers for their commodity in the market. 

Here is my Powerpoint presentation trying to illustrate this concept in the simplest terms possible.

I use an agricultural commodity as an example---Corn.

Let me know what you think, and more importantly, any egregious errors I might have made. THANKS!

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