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. They are imposed to regulate prices at a level that is considered fair to both parties. Price controls are typically used to govern prices of essential goods and services, such as food, housing, and healthcare. However, price controls can have unintended consequences and lead to inefficiencies in the marketplace. As such, policymakers must weigh the potential benefits against the potential drawbacks before enacting price controls.

Price Controls Are Usually Enacted