Price Control
/ˈpraɪs kənˌtroʊl/
Definitions
- (n.) Government-imposed regulation setting limits on the prices charged for goods or services to control inflation or protect consumers.
The government enacted price controls to curb the rising cost of essential medicines.
Forms
- price control
- price controls
Related terms
See also
Commentary
Price controls often intervene in free market pricing mechanisms and can have economic consequences such as shortages or surpluses.
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.