Price control scorecard
| Price ceiling (c) | Price floor (f) | ||
| Direct effects: | |||
| (1) | Markets don't clear (any binding price control drives a wedge between Qs and Qd) | |
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| (2) | Efficiency effects: Minimum welfare losses |
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| (3) | Equity effects: Wealth transfers | Winners: Losers: |
Winners: Losers: |
| Side effects: | |||
| (4) | "Non-price" rationing | |
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| (5) | Cheating and evasion | |
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| (6) | Product quality changes | |