Price controls are government-imposed limits on the prices that can be charged for goods and services in a market. These controls can take the form of price ceilings, which set a maximum price, or price floors, which establish a minimum price. The goal of price controls is often to protect consumers from high prices or to ensure that producers receive a fair income. While price controls can help in the short term, they may lead to unintended consequences, such as shortages or surpluses. For example, if a price ceiling is set too low, it can result in a lack of supply, as producers may not find it profitable to sell their goods at the lower price.