4.3 Price Ceilings

Mr. Racine introduces rent control, a type of price ceilings, and examines the intended and unintended effects that implementing a price ceiling brings about. Visit www.evtds.com for our complete library of economics videos, practice quizzes, and more!

0:00 Topic Introduction
0:50 Housing Market Setup
2:24 Price Ceilings/Rent Control Introduced & Resulting Shortage
5:51 Price Ceiling Impact on Consumers & Producers I
7:14 Price Ceiling Impact on Consumers & Producers II - Consumer & Producer Surplus
9:24 Price Ceilings and Allocative Efficiency
10:44 Other impacts of price ceilings - Black Markets & Non-Price Methods of Allocation
13:14 Recap of the Lesson