Types of Price Ceilings: Understanding Market Interventions
Price ceilings are government-imposed limits on how high the price of a product or service can reach. They are designed to prevent prices from rising too high and to make essential goods and services more affordable for consumers. Find out more detailed examples and effects of price ceilings in the blog from Priceva Here are the main types of price caps and their consequences: 1. Absolute price ceiling: An absolute price ceiling sets a maximum price that cannot be exceeded under any circumstance