In the perfect competition, the government regulation on goods which results in the creation of a black market is called ? Option 1: Price Ceiling. Option 2: Price Floor. Option 3: Free Entry and Exit. Option 4: Fixed Price.

The answer is 'Price Ceiling.'. View full solution:

CUET Economics - In the perfect competition, the government regulation on goods which results in the creation of a black market is called ? | PYQs + Solutions

CUET Economics 2026 13h May Shift 2

Micro

Easy

Price Ceiling.

Price Floor.

Free Entry and Exit.

Fixed Price.

✅ Correct Option: 1

Related questions:

12th May Shift 1

Match List-I with List-II

List-I	List-II
(A) Increase in demand and no change in supply	(I) Equilibrium quantity decreases.
(B) Both demand and supply increase	(II) Equilibrium quantity increases.
(C) Decrease in supply and no change in demand	(III) Change in price depends on magnitude of shift
(D) Increase in demand and decrease in supply	(IV) Equilibrium price increases.

Choose the correct answer from the options given below:

31 May Shift 1

When the price elasticity of supply is equal to zero. Then..........

16 May Shift 1

What will be the shape of unitary elastic supply curve?