The importance of Price Control and Price Control Measures for the benefit of consumers
Price control serves to regulate the value of the different goods and services where the government authority imposes the values to be traded in the market, this is also done in order to maintain the availability of these goods for the final consumers, and to avoid price increases during periods of scarcity, and thus to ensure an income for the benefit of producers.
At the same time, price controls have been the protagonist of the Venezuelan economy on several occasions and where the national market has achieved great success but also in many cases failure.
Regulating the prices of goods and services by the authorities is not something new, since several controls have been decreed many years ago, with the sole purpose of guaranteeing access to the population of basic necessities, whose prices tend to increase due to the economic conflict in which we are currently immersed.
The Venezuelan economy has been characterized by a multifactorial crisis, to which no solution seems to have been found to attack it and improve it definitively, since the main rentier economic model that the country has is highly dependent on the oil industry.
It is currently showing many signs of exhaustion, with countless mistakes in the national economy, resulting in the over dimension of many sectors of the national economy, with a high rate of corporate indebtedness, which has meant that the state has to make adjustments to the tax burden, and therefore directly impacts on prices.
All photos are in the public domain from Pixabay.
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