Price Controls: Minimums and Maximums

Read in your books about price controls - when and how they are used by governments. Then research which products have minimum and maximum prices and why these price controls have been set.  When you come to class on Monday, you should be able to explain these concepts and provide examples of markets in which they are being applied.

Subsidies = Good, Taxes = Bad. Right?

The general idea most people have toward taxes is that they are a necessary evil that, like the saying goes, we can't avoid.  But should we view taxes as bad?  And on the other side of the coin, should we view subsidies as good?  We will analyze the benefits and problems caused by each of these economic factors and determine where the truth lies.

Subsidies:

http://edition.cnn.com/2012/01/12/world/africa/nigeria-strike/index.html?hpt=hp_t2#

http://www.youtube.com/watch?v=cR5KN1O5hVk&feature=related

http://www.youtube.com/watch?v=P8G1HIlRppo