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What is price celling?

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What is price celling?

Posted by Tanaya Mandal 6 years, 11 months ago

CBSE > Class 12 > Economics

2 answers

Princi Singh 6 years, 11 months ago

Price ceiling is a situation when the price charged is more than or less than the equilibrium price determined by market forces of demand and supply. It has been found that higher price ceilings are ineffective. Price ceiling has been found to be of great importance in the house rent market.

Priyanka Sachdeva 6 years, 11 months ago

Setting a maximum price above the market equilibrium price for poor n needy to consume and afford required goods.. by the govt. Is called price ceiling

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