Price Ceilings

I agree that our market economy should have price ceiling because it would make the essential products available to more people. If suppliers kept raising the price of some inelastic products, lower-income people would not be able to afford them. Although it does create a shortage of supply, it would still help people acquire the product. Unlike products that need to be managed, the quality of the inelastic products would stay the same no matter the motivation of the producer. Some products that should have price ceilings are gas, electricity, and groceries (milk, bread, vegetables).