President Biden has begun to accuse stores of overcharging shoppers, as food costs remain a burden for consumers and a political problem for the president.
That is a big over simplification of how prices work. As another commenter pointed out, lack competition and a high barrier to entry can cause elevated prices even in the absence of scarcity. Price controls are found all over the economy and do not have the effects you allude to.
That is a big over simplification of how prices work. As another commenter pointed out, lack competition and a high barrier to entry can cause elevated prices even in the absence of scarcity. Price controls are found all over the economy and do not have the effects you allude to.