Do you think it is a good idea for government to regulate prices or should the price we pay for anything be based strictly upon the market interaction of demand and supply? What do you think?

Hello k:

No, it's NOT a good idea. But, if they DIDN'T do it, the price of milk, for example, would skyrocket.

excon

Do you think it is a good idea for government to regulate prices or should the price we pay for anything be based strictly upon the market interaction of demand and supply? What do you think?

It really depends on how much competition exists in the market and the availability of supply. In a market as excon describes there are many consumers and many producers however there are wholesalers and distributors who control the market lessening the competition and taking excess profits. In such instances government may impose price control