1.In the summer of 1979, our government imposed a 'price ceiling"- or price controlon gasoline.Why did they impose price control on gasoline jQuery22405636852710268825_1587933737924What was their goal?

2.What went wrong, exactly?

3. Often, when the price of a product or service is held "too low", a shortage develops and 'FOUR ALTERNATIVE FORMS OF ALLOCATION' must step in to take the place of the price system (the 'highest bidder' system).What are these four alternative methods?Please describe each one.

4. Which one of these four methods, in your opinion, may impose the GREATEST HARM upon our society and our economy?Why?Please give an example, perhaps one that discusses how some people are responding to the pandemic.