What does price control mean?

Definitions for price control
price con·trol

This dictionary definitions page includes all the possible meanings, example usage and translations of the word price control.

Princeton's WordNet

  1. price controlnoun

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

Wikipedia

  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."

ChatGPT

  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

How to pronounce price control?

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

Translation

Find a translation for the price control definition in other languages:

Select another language:

  • - Select -
  • 简体中文 (Chinese - Simplified)
  • 繁體中文 (Chinese - Traditional)
  • Español (Spanish)
  • Esperanto (Esperanto)
  • 日本語 (Japanese)
  • Português (Portuguese)
  • Deutsch (German)
  • العربية (Arabic)
  • Français (French)
  • Русский (Russian)
  • ಕನ್ನಡ (Kannada)
  • 한국어 (Korean)
  • עברית (Hebrew)
  • Gaeilge (Irish)
  • Українська (Ukrainian)
  • اردو (Urdu)
  • Magyar (Hungarian)
  • मानक हिन्दी (Hindi)
  • Indonesia (Indonesian)
  • Italiano (Italian)
  • தமிழ் (Tamil)
  • Türkçe (Turkish)
  • తెలుగు (Telugu)
  • ภาษาไทย (Thai)
  • Tiếng Việt (Vietnamese)
  • Čeština (Czech)
  • Polski (Polish)
  • Bahasa Indonesia (Indonesian)
  • Românește (Romanian)
  • Nederlands (Dutch)
  • Ελληνικά (Greek)
  • Latinum (Latin)
  • Svenska (Swedish)
  • Dansk (Danish)
  • Suomi (Finnish)
  • فارسی (Persian)
  • ייִדיש (Yiddish)
  • հայերեն (Armenian)
  • Norsk (Norwegian)
  • English (English)

Word of the Day

Would you like us to send you a FREE new word definition delivered to your inbox daily?

Please enter your email address:


Citation

Use the citation below to add this definition to your bibliography:

Style:MLAChicagoAPA

"price control." Definitions.net. STANDS4 LLC, 2024. Web. 29 Mar. 2024. <https://www.definitions.net/definition/price+control>.

Discuss these price control definitions with the community:

0 Comments

    Are we missing a good definition for price control? Don't keep it to yourself...

    Image or illustration of

    price control

    Credit »

    Free, no signup required:

    Add to Chrome

    Get instant definitions for any word that hits you anywhere on the web!

    Free, no signup required:

    Add to Firefox

    Get instant definitions for any word that hits you anywhere on the web!

    Browse Definitions.net

    Quiz

    Are you a words master?

    »
    of persons; taken advantage of
    A victimised
    B sought
    C suspicious
    D dangerous

    Nearby & related entries:

    Alternative searches for price control: