Price controls are usually enacted

Question

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Price controls are usually enacted when policymakers believe that the market price of a good or service is unfair to buyers or sellers. This is often done to prevent one group from being exploited by another or to ensure fairness in the market. Price controls can take the form of price ceilings (which prevent prices from going too high) or price floors (which prevent prices from going too low). They are not usually enacted as a means of raising revenue for public purposes, although taxes on goods may be used for this purpose.

Price Controls Are Usually Enacted