Office of Price Administration (OPA)

Definition

The Office of Price Administration (OPA) was established within the Office for Emergency Management on August 28, 1941, by Executive Order No. 8875. Its function was to control money (price controls) and rents after the outbreak of World War II.

Related terms

Rationing: This is a system under which scarce resources are distributed usually by governmental authority.

Inflation Control: Measures used by governments to manage economic growth so it doesn’t lead to inflation.

War Economy: The organization of a country's production capacity and distribution during a time of conflict.