Administered price refers to a price set by an administrative process, often involving government or regulatory body intervention, rather than by market forces. This mechanism is used in various sectors including housing, agriculture, and labor.
Understanding Excess Demand, its implications in economics, its causes, effects, and how it influences market dynamics.
Price ceilings are regulatory measures that set a maximum allowable price for a good or service, aimed at preventing prices from rising above a certain level. This entry covers historical context, types, key events, explanations, examples, considerations, related terms, comparisons, interesting facts, and more.
An in-depth examination of price floors, their purpose in economic policy, applications, examples, and impacts on the market.
An in-depth exploration of price floors, minimum price levels imposed by the government above the market equilibrium, their effects, applications, and implications in various economic sectors.
Detailed exploration of government attempts to control prices and incomes directly through policies, their historical context, types, key events, implications, examples, and related terms.
A detailed explanation of Repressed Inflation, including its historical context, types, key events, mathematical models, and more.
Understanding the concept of shortage, its causes, types, key events, and implications in economics and other fields.
A comprehensive exploration of the concept of 'Unfreeze' within economic contexts, typically referring to the removal of restrictions such as price controls or import limitations.
A detailed exploration of price controls, including their types, examples, pros and cons, and overall impact on the economy.
Exploring the macroeconomic theory of the wage-price spiral, its implications for inflation, and the various control measures employed to manage this phenomenon.
