negative impact of administered prices on the economy
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Higher food prices lead poor people to limit their food consumption and adjust to an increasingly unbalanced diet, which has a harmful effect on health in the shortterm (hunger) and longterm (food insecurity).
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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. In market economies, certain administered prices can exist in the form of price ceilings or rent controls.
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