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in economics price controls can be defined as a government enforced maximum or minimum price for essential goods such as bread and housing. Maximum price is a price ceiling and a minimum price enforced by the government is a price floor. A price control is a law passed by the government that dictates the price of a good or service. It can either put a price ceiling (saying the price cannot go above a certain point) or a price floor (saying the price cannot go below a certain point).
An example of a price ceiling is price control of gasoline in the 1970s.
An example of a price floor (albiet not a good one) is the US government's policy in the past to pay farmers not to farm certain crops in an attempt to keep the supply down and the price up.
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What is the definition of percent of discount?
That means that there is a discount (a price reduction, compared to the "official" price), and that this reduction is calculate as a percentage of the total price.
What is the definition if unit rate?
An objects quantity at the price of 1.
What is the definition of profit and loss in mathematics?
Profit:If the selling price(S.P.)of an article is greater than the cost price(C.P.), the difference between the selling price and cost price is called a profit. loss:If the selling price (S.P.) of an article is less than the cost price(C.P.),the difference between the cost price and selling price is called loss.
What is price control?
A price control is a ceiling that is set by the government, which does not allow the price of a product to rise above a certain level. The reasons for setting price controls usually have something to do with a particular situation. For example, during a time of war, price controls may be set. Another reason could be a necessary commodity which has continued to rise in cost, making it prohibitively expensive for consumers.
What is the definition for the word manipulate?
To influence or manage shrewdly or deviously, or to move, operate, or control by the hands
Definition of internal control by different authors?
definition of control
What is the range of hyper inflation?
Hyperinflation is an extremely rapid or out of control inflation and there is no precise numerical definition to hyperinflation. Hyperinflation is a situation where the price increases are so out of control that the concept of inflation is meaningless.
What is the legal definition of care custody and control?
Legal definition of care, custody and control?
What is the definition of target price in business?
The price you are aiming to get.
What is the definition of price taking?
It is important to know what words mean. The definition of "price taking" is a company or individual that is not influential enough to affect the price of an item.
What is the definition of ict control systems?
when you have specific control
What is the definition of regular price?
The regular price of an item is the non-sale price of that item.
What is the definition of unit price?
c
What is the definition of price elasticity on demand?
the higher the price,the shorter the quantity
What is the definition of 'price'?
Price is the amount of money you have to pay for an object you are purchasing.
What is the definition of price legislation?
price legislation is a system in which laws are being made in the price of things
What is the definition of sale price?
the price at which something is offered for sale. the reduced price of something on sale.
