Verified Answer :

Kalahira

False! In a free market is wrong to use any kind of price control, once it would turn the "free" in a "state managed" market, which means contradictory from the classic approach of the free market philosophy of economy. Some kind of partial free market policy can establish a floor price or a ceiling price, but it is not a free market.

Lanuel

In a free market system, price controls can include both floors and ceilings.

What is price control?

Price control can be defined as the standard regulatory conditions or restrictions that are set and enforced in a free market system by the government of a particular country.

Generally, there are two main types of price control and these include the following:

  • Price floor (minimum)
  • Price ceiling (maximum)

In a free market system, the minimum price that can be charged is known as a price floor while the maximum price that can be charged is known as price ceiling.

Read more on price control here: https://brainly.com/question/20819430

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