price ceiling and price floor
what they include

A price ceiling is the maximum price that a firm may charge for a good or service. It is typically set by the government in order to prevent businesses from overcharging consumers, thus increasing the cost of living and making it harder for people to access the goods and services they need. A price floor is the minimum price that a firm must charge for a good or service. It is typically set by the government in order to protect consumers from being undercharged by businesses, thus decreasing the quality of goods and services available to consumers. Price ceilings and floors are designed to balance the interests of both consumers and businesses, but can have unintended consequences if not managed properly.