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Knowledge Base

Prices: Why do they matter? | Chapter 8

Terms You May Have Heard:

Price ceilings: government-mandated limits on how much a business is allowed to charge for goods or services.

Rent control laws: laws that restrict how and when landlords can increase rent.

Price gouging laws: laws that prohibit businesses from increasing prices to a level deemed unfair, especially after a supply shock, when buyers are vulnerable.