Price controls are government-imposed limits on the prices charged for goods and services in the market, aimed at regulating the affordability and availability of essential products. These controls can take the form of price ceilings, which prevent prices from rising above a certain level, or price floors, which set a minimum price. Understanding price controls is essential as they are often used in agricultural policy to ensure that food remains accessible to consumers while affecting producers' decisions on supply and market equilibrium.
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