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The next section discusses price floors.
Floor ceiling in economics. While they make staples affordable for consumers in. This section uses the demand and supply framework to analyze price ceilings. The floor functions as a lower limit while a ceiling signifies the upper limit. This is usually done to protect buyers and suppliers or manage scarce resources during difficult economic times.
This is done to make commodities affordable to the general public. A price ceiling keeps a price from rising above a certain level the ceiling while a price floor keeps a price from falling below a certain level the floor. Price ceiling has been found to be of great importance in the house rent market. A price ceiling is a type of price control usually government mandated that sets the maximum amount a seller can charge for a good or service.
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