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The answer to your question depends mostly on the type of goods controlled.
If the goods are necessities, then the control helps the poor people of the economy and ensures their sustainability.
If the goods are not necessities, then price fixing will retard economic growth and discourage production of the said commodity.
What else can I help you with?
Why are price controls used?
Price controls prevent price gouging on items that are essential but either in short supply or else whose supply in controlled by one group.
What is the usual result of price controls?
Price controls, such as price ceilings and price floors, often lead to market distortions. Price ceilings can create shortages, as the controlled price may discourage production while increasing demand. Conversely, price floors can result in surpluses, as the higher price may encourage production but reduce consumer demand. Overall, price controls can lead to inefficiencies and unintended consequences in the market.
Give an example of a price floor and a price ceiling and the purpose of the controls?
an example of a price floor is the minimum wage
Who controls the price of oil in the middle east?
Opec
What type of government controls the OPEC?
OPEC controls most of the worlds oil source.
Who controls the price of gasoline?
the government controls the price of gasoline
Why are price controls used?
Price controls prevent price gouging on items that are essential but either in short supply or else whose supply in controlled by one group.
What is the usual result of price controls?
Price controls, such as price ceilings and price floors, often lead to market distortions. Price ceilings can create shortages, as the controlled price may discourage production while increasing demand. Conversely, price floors can result in surpluses, as the higher price may encourage production but reduce consumer demand. Overall, price controls can lead to inefficiencies and unintended consequences in the market.
What controls price and availability in an industry?
monopoly
Give an example of a price floor and a price ceiling and the purpose of the controls?
an example of a price floor is the minimum wage
Who controls the price of oil in the middle east?
Opec
What type of government controls the OPEC?
OPEC controls most of the worlds oil source.
Diocletian tried to restore the roman economy with taxation and?
Price Controls
What did the agricultural industry want the government to do after the war?
get rid of price controls
What happened to the polish economy when price controls in Poland?
inflation soared
What are two examples of direct control in ww1?
The two examples of direct control in ww1 included price controls and rent controls.
What effects the price of product?
salex tax
