Question

Suppose a hurricane hits Florida, causing widespread damage to houses and businesses. The governor of Florida places price ceilings on all building materials to keep the prices reasonable. Which of the following is the most likely result?
A) A faster recovery from the storm.
B) More people will be able to afford and purchase building materials.
C) Shortages of building materials and a slower recovery from the storm.
D) Both a and b are correct.

Answer 1

Answer:

D) Both a and b are correct.

Explanation:

According to my research on Natural Disaster effects on society, I can say that based on the information provided within the question this will most likely lead to faster recovery from the storm since more people will be able to afford and purchase building materials. This is because a price ceiling is when the government puts a limit on a products price so retailers cannot take advantage of a situation and raise the prices drastically.

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