-Scalping at major sporting events is an example of
A) a surplus caused by the existence of price ceilings.
B) the operation of rationing by the market.
C) a black market caused by a price ceiling.
D) a black market caused by a price floor.

Question

-Scalping at major sporting events is an example of
A) a surplus caused by the existence of price ceilings. 
B) the operation of rationing by the market. 
C) a black market caused by a price ceiling. 
D) a black market caused by a price floor.

Quizplus · Accepted Answer

Scalping at major sporting events is an example of a black market caused by a price ceiling, where tickets are sold for a price higher than the official price due to high demand and limited supply.

-Scalping at Major Sporting Events Is an Example of