Question 3 (a) Controversy sometimes surrounds the prices and output determined by free markets through demand and supply. As a result the government will intervene in terms of price ceiling, price...

Extracted text: Question 3 (a) Controversy sometimes surrounds the prices and output determined by free markets through demand and supply. As a result the government will intervene in terms of price ceiling, price floors and minimum wage rates. In your own words, explain and discuss whether you agree or disagree with such interventions compared to the free market?