noun a price set by a government or other authority rather than by market forces
In economics, administered price refers to a price set by a government or a regulatory body rather than being determined by market forces.
Administered prices are often used in business management to ensure stability and control over pricing strategies.
Administered prices play a role in public policy by regulating prices in certain industries to protect consumers or promote fair competition.
In regulatory affairs, understanding administered prices is crucial for compliance with pricing regulations and guidelines.
In the publishing industry, administered price may refer to the set price at which a book is sold by the publisher to retailers or distributors.
In the healthcare industry, administered price may refer to the fixed price at which a psychological service is charged to patients by a clinic or private practice.
In the field of economics, administered price may refer to government-regulated prices for goods or services in order to control inflation or ensure affordability for consumers.
In the retail industry, administered price may refer to the manufacturer's suggested retail price (MSRP) at which a product is sold to consumers in stores.