Log In Registration
Ask an expert
Business
19.08.2021 07:31
239
353
5
Solved by an expert

Typical of price ceilings, the ancient Indian political philosopher known as Kautilya

Typical of price ceilings, the ancient Indian political philosopher known as Kautilya advocated controls to protect against merchant greed, fixing a profit of 5% over the fixed price of local commodities, including textiles. If severe weather were to render the textile market more uncertain (e.g., if transportation routes were damaged), what would reasonably happen
Show Answers
Campos101
Campos101
4,7(3 marks)

Fewer merchants would be willing to supply textiles.

Explanation:

Price ceilings are the maximum price that is set for commodities in a particular market by the government. It is aimed at protecting buyers from excessive price exploitation by sellers.

In the given scenario the price of commodities was set at 5% above fixed price of local communities. This means sellers can make a maximum of 5% on any sale.

However severe weather rendered the textile market more uncertain.

The result will be that sellers will be less willing to provide commodities as they are not able to push the added cost to the buyer.

isabellemaine
isabellemaine
4,8(46 marks)
B.

Popular Questions about the subject: Business

If real gdp per capita grows at a rate of 5 percent per year consistently...
If real gdp per capita grows at a rate of 5 percent per year consistently over time, how many years will it take for it to double in size?...
Business
28.02.2020 22:12
To earn a good credit rating, you should do all of the following except: a....
To earn a good credit rating, you should do all of the following except: a. keep your own checking and savings account. b. pay bills after due date. c. pay bills before the...
Business
20.06.2020 21:20
Required information [the following information applies to the questions displayed...
Required information [the following information applies to the questions displayed below.] rose company had no short-term investments prior to year 2017. it had the following...
Business
16.07.2021 04:03
Jennifer, age 54, earns $125,000 annually from abc incorporated. abc sponsors...
Jennifer, age 54, earns $125,000 annually from abc incorporated. abc sponsors a simple ira, and matches all employee deferrals 100% up to a 3% contribution. assuming jennifer...
Business
21.09.2021 13:35
Coca-cola and pepsi are both releasing a new soda at the same time. each company...
Coca-cola and pepsi are both releasing a new soda at the same time. each company is fairly well known, and they are both deciding between pursuing two advertising strategies....
Business
01.05.2020 05:38
Abc restaurant specializes in rice noodles and has driven up their economic...
Abc restaurant specializes in rice noodles and has driven up their economic profit, causing competitors to enter the restaurant market. illustrate what will happen to the...
Business
27.06.2020 09:02
Ann recently saw an ad for claritin, a medicine perfect for counteracting...
Ann recently saw an ad for claritin, a medicine perfect for counteracting her allergy symptoms. she immediately went to the store to purchase the product. in terms of the...
Business
20.02.2023 16:02
In the month of march, digby received orders of 139 units at a price of $15.00...
In the month of march, digby received orders of 139 units at a price of $15.00 for their product daze, and in april receives an order for 35 units of their product daze at...
Business
31.01.2021 11:13
What is interoperability? a.a broad, general term that describes nonproprietary...
What is interoperability? a.a broad, general term that describes nonproprietary it hardware and software made available by the standards and procedures by which their products...
Business
25.02.2022 19:42
Suppose there are two economies that are identical in every way with the following...
Suppose there are two economies that are identical in every way with the following exception. economy a has an unemployment compensation system while economy b does not have...
Business
31.08.2020 07:57

New questions by subject

True or False: Beta testing is the act of implementing a new idea, system...
True or False: Beta testing is the act of implementing a new idea, system or product on a large scale, controlled environment within the entire organization....
Business
12.08.2022 17:13
In order for Dr. Reynolds to send a CPOE from her office computer system to...
In order for Dr. Reynolds to send a CPOE from her office computer system to the computer system at the local hospital, a/an must exist between the two computer systems....
Computers and Technology
19.07.2021 06:57
In order for derived classed to have access to encapsulated data members and...
In order for derived classed to have access to encapsulated data members and methods of superclasses, the data members and methods should be declared using the modifier....
Social Studies
26.02.2023 20:17
You have had a cold for 5 days, and your nose is so stuffy you cannot smell...
You have had a cold for 5 days, and your nose is so stuffy you cannot smell anything. When have your coffee, you realize it has no taste. What is the most likely reason for...
Social Studies
30.11.2021 11:13
You put a 3 kg block in the box, so the total mass is now 8 kg, and you launch...
You put a 3 kg block in the box, so the total mass is now 8 kg, and you launch this heavier box with an initial speed of 4 m/s. How long does it take to stop...
Physics
08.07.2020 12:38
In negative geotropism of shoots, auxin is redistributed to the side of the...
In negative geotropism of shoots, auxin is redistributed to the side of the cell, where the amyloplasts have accumulated, where it cell elongation....
Biology
21.06.2022 21:27
You have a unit of highly capable, motivated employees. You think that they...
You have a unit of highly capable, motivated employees. You think that they no longer need formal leaders, and can take on more responsibility in setting their own goals...
Social Studies
11.01.2021 19:00
The potential difference between the cloud and ground in a typical lightning...
The potential difference between the cloud and ground in a typical lightning discharge may be up to 100 MV (million volts). What is the gain in kinetic energy of an electron...
Physics
21.01.2022 16:33
Cultivation analysis says that when someone watches a significant amount of...
Cultivation analysis says that when someone watches a significant amount of TV, that viewer s point of view of the surrounding world is . Informed Realistic At odds with...
Social Studies
26.11.2020 03:10
In a survey of 248 people, 156 are married, 70 are self-employed, and 25 percent...
In a survey of 248 people, 156 are married, 70 are self-employed, and 25 percent of those who are married are self-employed. If a person is to be randomly selected from those...
Mathematics
27.11.2021 15:46
Find out answers to questions
from an AI-bot
Get full access
Answers
Themes
Family and Home Sport Other Dating, Love, Relationships Health and Medicine Science and Technology Cities and Countries Travel and tourism Food and Cooking Philosophy Style and Beauty Animals and plants Business and Finance Construction and repair Leisure and Entertainment Legal consultation Goods and services Society and Politics Photography and Videography Auto and Moto Art and Culture Computers and Internet Horoscopes, Magic, Divination Work and Career Business Law Spanish SAT Engineering Social Studies Computers and Technology World Languages Mathematics French Biology Arts History Geography Health Chemistry Medicine Physics English Advanced Placement (AP) German
#
#
#
#
# #

We expand our knowledge with many expert answers

Answers