Explain the types of price control?

      

Explain the types of price control?

  

Answers


Benjamin
The types of price control include the following;

1: Maximum Price control/price ceiling-This is the fixing of prices below the equilibrium and is done when the government considers that the prices determined by the forces of demand and supply is too high.

2: Price floor-Refers to the fixing of prices above the equilibrium.



Kalis answered the question on March 23, 2018 at 13:27


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