The following is an abstract of an article published inMalaysia.
PUTRAJAYA, Jan 24 — The Domestic Trade and ConsumerAffairs Ministry has announced a list of 13 goods, which will beprice-controlled, in conjunction with the upcoming Chinese New Yearcelebration early next month…the retail prices for goods includelive chicken at RM6.20 per kilo, standard chicken at RM7.50 perkilo, and super chicken at RM8.40 per kilo.“ All the goods on thelist are in high demand during the festive season, hence the needfor control to stabilise its price and supply on the market. “Wedetermined the maximum price of the goods based on several factors,including information gleaned from our monitoring activitiesnation-wide last year and this year, views of government agenciesrelated to food production, and from discussions with stakeholderssuch as manufacturers, suppliers and retailers,” Saifuddinsaid.
1. Use a suitable diagram to explain the maximum priceset on the retail price of super chicken.
2. Explain four possible problems of such anintervention.
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