The imposition of price by the government causes a surplus of goods to accumulate in the supply chain.
What are goods and services?
Goods and services are those things that we exchange our money for. A typical example is what happens at the grocery store. You exchange your money for grains.
When the government imposes a binding price floor, it causes a surplus of goods to accumulate in the supply chain.
Learn more about demand and supply: https://brainly.com/question/13353440
