Concept:Price control measures are steps taken by the government to protect consumers from excessively high prices of essential goods.
Explanation:When prices of goods rise too high, the government can set a maximum price, also known as a price ceiling.
A maximum price is a legal upper limit that sellers are not allowed to exceed.
For example, if the market price of food is very high, the government may fix a lower maximum price so consumers can afford it.
This reduces the burden of high costs and stops sellers from exploiting buyers.
Minimum prices would actually keep prices high, which increases consumer hardship.
Commodity boards and price control boards are institutions that supervise trade, but the direct pricing policy used to lower prices is the maximum price.
However, setting a maximum price below the equilibrium level may cause shortages because producers may not be willing to supply enough goods.
Still, the main aim is to reduce hardship for consumers due to high prices.
Answer:A. maximum prices