Definitions for price control
price con·trol

Princeton's WordNetRate this definition:0.0 / 0 votes

1. price controlnoun

   restriction on maximum prices that is established and maintained by the government (as during periods of war or inflation)

WikipediaRate this definition:0.0 / 0 votes

1. price control

   Price controls are restrictions set in place and enforced by governments, on the prices that can be charged for goods and services in a market. The intent behind implementing such controls can stem from the desire to maintain affordability of goods even during shortages, and to slow inflation, or, alternatively, to ensure a minimum income for providers of certain goods or to try to achieve a living wage. There are two primary forms of price control: a price ceiling, the maximum price that can be charged; and a price floor, the minimum price that can be charged. A well-known example of a price ceiling is rent control, which limits the increases that a landlord is permitted by government to charge for rent. A widely used price floor is minimum wage (wages are the price of labor). Historically, price controls have often been imposed as part of a larger incomes policy package also employing wage controls and other regulatory elements. Although price controls are routinely used by governments, Western economists generally agree that price controls do not accomplish what they intend to, and many economists instead recommend such controls should be avoided. For example, nearly three-quarters of a sample of 1,350 U.S. economists surveyed in the early 1990s disagreed with the statement, "Wage-price controls are a useful policy option in the control of inflation."

ChatGPTRate this definition:0.0 / 0 votes

1. price control

   Price control refers to the regulation by the government of prices of goods and services in an economy. It can take two forms: a price ceiling, the maximum price that can be charged, or a price floor, the minimum price that can be charged. These controls are set in order to protect consumers from rapidly fluctuating or unaffordable prices, or to ensure producers are compensated fairly. However, such interventions can also lead to imbalances in supply and demand.

Matched Categories

1. • Control

How to pronounce price control?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say price control in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of price control in Chaldean Numerology is: 5

2. Pythagorean Numerology

   The numerical value of price control in Pythagorean Numerology is: 4

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=price control
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/Price_Control
3. ^ ChatGPT
   https://chat.openai.com