Price controls in a free market economy


Under normal circumstances pricing of goods and services is determined by economic factors like production costs for the goods and demand and supply stimulants.

Further, pricing can be affected or influenced by unfair competition practices by suppliers which enjoy market dominance and manipulate the market through price-fixing, hoarding of goods and the creation of a black market Sometimes situations arise when competition becomes ineffective and available legislation becomes insufficient to control the situation.

Tumisang Ndlovu speaks Bob Makukunzva lawyer at Gwina attorneys discussing the effects of the covid 19 pandemic.