Price controls on rents are frequently implemented by governments in an effort to protect renters from high housing prices. Diff

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2 years ago

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Price controls on rents are frequently implemented by governments in an effort to protect renters from high housing prices. Diff

erentiate the type of price control used from other potential price controls, and then formulate reasons as to why governments should be careful when implementing these types of controls.

Business

1 answer:

Mamont248 [21] · Answer 1 · 2023-08-16T17:12:44+03:00

The two primary varieties of price restrictions are known as price ceilings and price floors respectively.

<h3>What exactly are these pricing controls?</h3>

Price control is a technique that the government uses to guarantee that the price of a product or service on the market does not become too high or cheap.

Price controls may be broken down into two categories: price ceilings and price floors. Price floors and ceilings are used to determine the lowest and maximum amounts of a product's price, respectively. Price ceilings are used to determine the maximum amount of a product's price.