International Baccalaureate
Economics Higher Level
Inter Community School of Zurich
Marc Fleming
Extract Title:
Price controls amid anti-dumping probe
Source of Extract
Bangkok Post
www. Bangkokpost.com
Extract date:
Monday February 18 2002
Word Count:
447
Syllabus Links:
2 & 3
This article discusses how the Thai government implemented a price ceiling on various hot rolled still products because domestic firms were exploiting the situation of the imposed surcharges on imported steel.
Price ceilings are a form of market intervention employed by governments to control price levels. They are also known maximum prices. A maximum price is a set physical limit of price, this meaning that the price of a given product may not exceed the set limit. Surcharges are a form of protectionism employed by the government; they are tariffs, which are placed on imported products to protect home markets.
Economics Higher Level
Inter Community School of Zurich
Marc Fleming
Extract Title:
Price controls amid anti-dumping probe
Source of Extract
Bangkok Post
www. Bangkokpost.com
Extract date:
Monday February 18 2002
Word Count:
447
Syllabus Links:
2 & 3
This article discusses how the Thai government implemented a price ceiling on various hot rolled still products because domestic firms were exploiting the situation of the imposed surcharges on imported steel.
Price ceilings are a form of market intervention employed by governments to control price levels. They are also known maximum prices. A maximum price is a set physical limit of price, this meaning that the price of a given product may not exceed the set limit. Surcharges are a form of protectionism employed by the government; they are tariffs, which are placed on imported products to protect home markets.
