In a free market system, price controls can include both floors and

price controls can include both floors and ceilings.

price controls are legal minimum or maximum prices for specific goods or services. they are imposed by government in an attempt to manage the economy by direct intervention.   they happen when the government is not satisfied with the market price.

a price ceiling is the legal maximum price for a good or service.

a price floor is the legal minimum price.

when price control is imposed, excess demand or supply will usually happen because the legal price will be different from the market price.

answer; (false);