lesson no. 13 Q1. What Is Control Price? How Does It Affect Consumers?

Answer: Control price is a maximum price fixed by the government for certain goods. It helps keep essential goods affordable for consumers.

Effects on consumers:

  • Essential goods become more affordable.
  • Poor families can buy important items at lower prices.
  • If the price is kept too low, demand may become greater than supply. This can cause shortages, long queues or rationing.

Example: The government may control the price of an essential food item so that people can afford it.

Remember: Control price helps consumers by keeping essential goods affordable, but it may cause shortages.

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