<P> Price controls are governmental restrictions on the prices that can be charged for goods and services in a market . The intent behind implementing such controls can stem from the desire to maintain affordability of goods even during shortages, and to slow inflation, or, alternatively, to ensure a minimum income for providers of certain goods or a minimum wage . There are two primary forms of price control, a price ceiling, the maximum price that can be charged, and a price floor, the minimum price that can be charged . </P> <P> Historically, price controls have often been imposed as part of a larger incomes policy package also employing wage controls and other regulatory elements . </P>

What is the role of price controls in the market economy
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