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Interview: An apprenticeship in economics

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Understanding economic data: Confidence indicators

Price control

Steve Stoddard outlines two forms of price control that may be used by governments to deal with market failure: minimum prices and maximum prices

Sales assistant's hands operate a touch-screen till.
© Khaligo/stock.adobe.com

■ Governments sometimes take the view that the equilibrium price that would prevail in a free market is either too high or too low.

■ High or low prices could lead to market failure.

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Previous

Interview: An apprenticeship in economics

Next

Understanding economic data: Confidence indicators

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