Question

commission announce Administered price on a yearly basis​

Answer 1

Answer:

An administered price is the price of a good or service as dictated by a government or centralized authority, as opposed to market forces of supply and demand. Administered pricing has appeared in communist regimes such as the Soviet Union, and is discredited by many economists as being inefficient and unsustainable. In market economies, certain administered prices can exist in the form of price ceilings or rent controls.