Question

What do you mean by independent prices, Administrative prices, contrtrolled price, and regulatory prices​

Answer 1

Answer:

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. A well-known example of a price ceiling is rent control, which limits the increases in rent.Price controls are government-mandated legal minimum or maximum prices set for specified goods. They are usually implemented as a means of direct economic intervention to manage the affordability of certain goods