Price Ceiling
/ˈpraɪs ˈsiːlɪŋ/
Definitions
- (n.) A legally established maximum price that can be charged for a good or service, intended to protect consumers from excessively high prices.
The government imposed a price ceiling on essential medicines to ensure affordability.
Forms
- price ceilings
See also
Commentary
Price ceilings often create shortages by preventing prices from rising to equilibrium levels.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.