Most economists are in favour of price controls as a way of allocating resources in the economy.

Question

Quizplus · Accepted Answer

Most economists are actually opposed to price controls as a way of allocating resources in the economy, as it can lead to inefficiencies and distortions in the market. Price controls can create shortages or surpluses, decrease the quality of goods and services, and reduce incentives for producers to invest in innovation and development. Instead, most economists advocate for market-based mechanisms such as supply and demand or taxation to help allocate resources efficiently.

Most Economists Are in Favour of Price Controls as a Way