Micro: Unit 1.4 -- Government Intervention: Price Controls, Quotas, and Subsidies

Hey Everyone! I'm Mr. Willis, and You Will Love Economics! In this video, I will: Describe how the use of a price ceiling changes price level and quantity in a market, as well as the pros and cons of price ceilings Explain how the use of a price floor changes price level and quantity in a market, as well as the pros and cons of price floors Discuss how the use of a production quota changes price level and quantity in a market, as well as the pros and cons of quotas and why quotas are used in the product market Describe how the use of a per unit subsidy changes price level and quantity in a market, as well as the pros and cons of subsidies and why subsidies are used in the product market Are you looking to teach this topic in your class? We have designed an activity to fit perfectly with this video: https://www.teacherspayteachers.com/P... Follow our store on Teachers Pay Teachers https://www.teacherspayteachers.com/S... Look for us on Social Media: Instagram --   / youwillloveh.  . Facebook --   / youwilllovehi.  . Subscribe to our YouTube Channel:    / youwillloveeconomics   Check out our website for teaching tips and insight from us- https://sites.google.com/view/you-wil...