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Rent Control in New York - KILBY

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					                       Rent Control in New York
                    Case Study #2 – CIE3M – Mr. Ludwig

Student Name

_____________________________________

Task

    Read the case study below titled “Rent Control in New York”
    Answer the questions assigned on the New York City Rent Control –
     Answer Sheet by drawing upon the information detailed in the article and
     also the subject matter covered in the related Economics class.
    Answers can be inserted directly onto the New York City Rent Control –
     Answer Sheet provided on the daybook.
    The case study answers must be printed out and submitted prior to the start
     of class as a „ticket to class‟.

Marking Scheme

Total Marks [Communication] -          ____ / 11

Case Study Questions:

#1: Define rent control. [1 mark]

#2: When rent control is introduced into the free market, what is caused/created
that leads to prices increasing drastically? [1 mark]

#3: State the objective of rent control. Identify which special-interest group is
supposed to benefit the most from rent control. [2 marks]

#4: Identify the socio-economic group(s) that has (have) benefited the most from
the rent control policies in New York City. [1 mark]

#5: Identify what occurs in the market as a result of rent control policies. [1 mark]
#6: List and explain the two reasons why the answer to Question #5 occurs. [2
marks]

#7: Determine and state whether buyers or sellers have the power in the housing
market in New York and explain why. Identify the type of market that develops
for housing as a result. [3 marks]

				
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posted:10/3/2011
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