Which act provides for the fixing of maximum selling price of essential articles or commodities and creates the price control council?

Which act provides for the fixing of maximum selling price of essential articles or commodities and creates the price control council?

• A. RA 6124
• B. RA 425
• C. RA 6969
• D. RA 166

Answer: (A)

Government price controls for essential goods involve setting a legal ceiling on selling prices and having a dedicated body to manage and enforce these ceilings. The act in question provides for fixing the maximum selling price of essential articles and creates the price control council, giving the government authority to determine which items are essential, set price caps, and oversee compliance. This arrangement helps prevent profiteering and stabilize supplies during shortages, balancing consumer protection with producer viability. The other acts address topics outside price controls, so they don’t fit the description.

Government price controls for essential goods involve setting a legal ceiling on selling prices and having a dedicated body to manage and enforce these ceilings. The act in question provides for fixing the maximum selling price of essential articles and creates the price control council, giving the government authority to determine which items are essential, set price caps, and oversee compliance. This arrangement helps prevent profiteering and stabilize supplies during shortages, balancing consumer protection with producer viability. The other acts address topics outside price controls, so they don’t fit the description.