A price ceiling is a government-imposed price control or limit on how high a price is charged for a product. Governments intend price ceilings to protect consumers from conditions that could make necessary commodities unattainable. However, a price ceiling can cause problems if imposed for a long period without controlled rationing. Price ceilings...
A government-imposed upper limit on the price that may be charged for a product. If that limit is binding, it implies a situation of excess demand and shortage.
Law requiring that a price for a certain good be kept below some level. May lead to shortage and a black market.
A maximum limit for a price above which it is prevented from moving.
A maximum limit for a price above which it is prevented from moving
The maximum price which can be charged bearing in mind competition and what the market can bear.
A price ceiling is the highest price a supplier is allowed to set for a product or service. Price ceilings are normally government-imposed to protect consumers from swift price increases in basic commodities.