price controls
Price controls refer to government regulations or policies that set limits on the prices that can be charged for goods and services in the market. These controls can either involve setting price ceilings, which cap the maximum price that can be charged, or price floors, which establish a minimum price that must be paid. The aim of price controls is typically to regulate and stabilize prices, prevent price gouging, promote affordability, or address market failures. However, they can often lead to unintended consequences such as shortages, lower quality goods, or distorted market dynamics.
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