Minimum Price Government Microeconomic Intervention A Level Economics 9708

>> YOUR LINK HERE: ___ http://youtube.com/watch?v=PExw4XEQ2lA

Welcome to our Cambridge A-Level Economics series! In this video lesson, we're delving into the concept of Minimum Price, a key government intervention in markets. • 1. Defining Minimum Price: • We'll start by defining what Minimum Price means and why governments use it. You'll learn how Minimum Price, also known as a Price Floor or Price Support, is set by the government above the equilibrium price to ensure producers receive a certain level of income. • 2. Explaining Objectives of Minimum Price: • Discover the three main objectives behind setting Minimum Price. We'll explore how it protects producers' incomes, encourages the production of important goods, and safeguards the income of specific income groups, ensuring stability in the market. • 3. Analyzing Impact on Market Equilibrium: • Using simple diagrams, we'll analyze the impact of Minimum Price on market equilibrium. You'll see how it affects the quantity supplied and demanded, leading to a surplus as production exceeds demand. • 4. Evaluating Effects on Consumer and Producer Surplus: • We'll delve into the effects of Minimum Price on consumer and producer surplus, comparing scenarios before and after its implementation. By identifying winners and losers, you'll understand the redistribution of welfare in the market. • 5. Describing Government Strategies to Address Surplus: • Finally, we'll explore various strategies governments employ to address surplus caused by Minimum Price. From buying and storing surplus to implementing quotas and stimulating demand, we'll examine how policymakers intervene to restore market balance. • Whether you're preparing for your CAIE A Level Economics exams or simply curious about government intervention in markets, this video provides a comprehensive overview of Minimum Price and its implications. • ________________________________________________________________________ • Want an A* in A Level Economics? • Join Alt Academy to gain access to our amazing resources. https://altacademy.org/?utm_source=yo... • You’ll get: • 1. Video Lessons covering the full AS A2 syllabus • 2. Expert Academic Support for all your doubts and questions • 3. Past Paper Video Solutions that explain how to answer each question step by step • 4. A readymade study plan to complete the AS or A2 Econ syllabus in 60 or 90 days • and so much more! • Not just for Economics, but also other commerce and science subjects (and even Psychology), making 8 in total! • Still have questions? WhatsApp us: +92 301 559 4483 or • Book a demo call. https://calendly.com/aazmir-fahim/30m... • Follow Us: • Instagram: / altacademyorg • LinkedIn: / altacademyorg • Facebook: / altacademyorg • For exam tips, past paper video solutions, intros to our subject experts more, check out our main YouTube channel. • / @altacademyorg • Want to buy Alt for Math, Biology or another subject? Check out our other channels for what kind of lessons to expect: • / @alevelphysics.altacademy • / @alevelbusiness.altacademy • / @alevelchemistry.altacademy • / @alevelmaths.altacademy • / @alevelaccounting.altacademy • / @alevelpsychology.altacademy • / @alevelbiology.altacademy

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