Price controls
A) exist when firms decide that they want to charge a higher price for their product.
B) exist when consumers boycott a product.
C) are government-mandated minimum or maximum prices that may be charged for goods.
D) are the benefit of discount stores like Sam's Club.

Question

Quizplus · Accepted Answer

Price controls are government-mandated limits on prices, either as a minimum or maximum price that can be charged for goods or services. They are usually implemented to protect consumers from high prices or to protect businesses from low prices.

Price Controls