20 lines
682 B
Markdown
20 lines
682 B
Markdown
<!-- generated: provider=openrouter model=arcee-ai/trinity-large-preview:free date=2026-02-19 source=book-1-chapter-11 -->
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# Agricultural Price Ceilings
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## Definition
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Maximum prices set by government for agricultural products, typically below market equilibrium levels, intended to protect consumer interests. Agricultural price ceilings can lead to shortages and reduced quality.
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## Source Chapter
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Book I, Chapter 11
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## Context
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Smith examines historical examples of agricultural price ceilings, including the Statute of Labourers, arguing that such interventions often harm the very groups they aim to protect and reduce economic efficiency.
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## Economic Domain
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Regulation
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