Question

Why did he office of price administration set limits on the prices that could be changed fir certain goods

Answer 1

The office of price administration set limits on the prices that could be changed for certain goods because the government could set restrictions on the prices charged for services and goods in the market. The idea was to maintain prices affordable for products, slow inflation, or to facilitate a minimum income for providers. This could be done in two ways: a price ceiling and a price floor, which means that the maximum price that can be charged is the price ceiling, and the minimum price was the price floor.  

The Office of Price Administration was part of the Office for Emergency Management of the U.S. It was dissolved on May 29, 1947.