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  2. Price controls - Wikipedia

    en.wikipedia.org/wiki/Price_controls

    A government-set minimum wage is a price floor on the price of labour. A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product, [24] good, commodity, or service. A price floor must be higher than the equilibrium price in order to be effective. The equilibrium price, commonly called ...

  3. Price ceiling - Wikipedia

    en.wikipedia.org/wiki/Price_ceiling

    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.

  4. Price floor - Wikipedia

    en.wikipedia.org/wiki/Price_floor

    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 ...

  5. Free market - Wikipedia

    en.wikipedia.org/wiki/Free_market

    Proponents of the free market as a normative ideal contrast it with a regulated market, in which a government intervenes in supply and demand by means of various methods such as taxes or regulations. In an idealized free market economy, prices for goods and services are set solely by the bids and offers of the participants.

  6. Free price system - Wikipedia

    en.wikipedia.org/wiki/Free_price_system

    Therefore the free price system rations supplies, distributes income, and allocates resources. A free price system contrasts with an administered price system, where prices are administered by government in a controlled market. The price system, whether free or controlled, contrasts with physical and non-monetary economic planning.

  7. Regulated market - Wikipedia

    en.wikipedia.org/wiki/Regulated_market

    A regulated market (RM) or coordinated market is an idealized system where the government or other organizations oversee the market, control the forces of supply and demand, and to some extent regulate the market actions. This can include tasks such as determining who is allowed to enter the market and/or what prices may be charged. [1]

  8. Opinion - Patients, not government, should set health care prices

    www.aol.com/opinion-patients-not-government-set...

    Medicare's price-setting process does not reflect patients' value assessments or providers' variation in care delivery, and a shift to a direct-to-consumer market would allow patients to control ...

  9. Price mechanism - Wikipedia

    en.wikipedia.org/wiki/Price_mechanism

    In economics, a price mechanism refers to the way in which price determines the allocation of resources and influences the quantity supplied and the quantity demanded of goods and services. The price mechanism, part of a market system , functions in various ways to match up buyers and sellers: as an incentive, a signal, and a rationing system ...