price control
Definition
Government dictated ceiling on the prices of essential consumer goods, to keep cost of living within a manageable range. Price control was quite common in developing countries until 1990s. In 1971 in the US, all prices were frozen for 90 days to rein in galloping inflation.
price control is in the Banking, Commerce & Finance and Economics, Politics, & Society subjects.
price control appears in the definitions of the following terms: International Monetary Fund (IMF), economic rate of return (ERR), suppressed inflation, monopoly and theory of the third best
price control appears in these other term: wage and price controls
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