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A related government intervention to price floor, which is also a price control, is the price ceiling; it sets the maximum price that can legally be charged for a good or service, with a common example being rent control. A price ceiling is a price control, or limit, on how high a price is charged for a product, commodity, or service.
A price ceiling is a government- or group-imposed price control, or limit, on how high a price is charged for a product, commodity, or service.Governments use price ceilings to protect consumers from conditions that could make commodities prohibitively expensive.
A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product, [1] good, commodity, or service. It is one type of price support; other types include supply regulation and guarantee government purchase price. A price floor must be higher than the equilibrium price in order to be effective ...
Vertical price fixing includes a manufacturer's attempt to control the price of its product at retail. [7] In State Oil Co. v. Khan, [8] the U.S. Supreme Court held that vertical price fixing is no longer considered a per se violation of the Sherman Act, but horizontal price fixing is still considered a breach of the Sherman Act.
More loosely, "rent control" describes several types of price control: "strict price ceilings", also known as "rent freeze" systems, or "absolute" or "first generation" rent controls, in which no increases in rent are allowed at all (rent is typically frozen at the rate existing when the law was enacted);
Price controls have been disastrous whenever they've been implemented. Prices are signals, ways of communicating how much of a good is needed by consumers and how much ought to be produced ...
The Office of Price Administration and the Legacy of the New Deal, 1939-1946. Public Historian, (1983) 5:3 pp. 5–29. JSTOR; Bartels, Andrew H. The Politics of Price Control: The Office of Price Administration and the Dilemmas of Economic Stabilization, 1940-1946. (Ph.D. dissertation, The Johns Hopkins University, 1980.) Galbraith, J. K.
The Emergency Price Control Act was penned as three titles specifying rulings for price controls regarding agricultural commodities, goods and services, and real property. The Act provided authority for enforcement, investigative reporting, and reviews of price stabilization schedules by the Office of Price Administration. The law specified a ...