Japan

If supply is greater than demand, the price of a product will decrease. If demand is greater than supply, the price of a product will increase. This is a simple rule that determines the price of almost all consumer goods. But what happens if the price is too high. What happens if there is a massive shortage or if a war breaks out and the price of everyday products such as sugar or bread skyrockets. Who will protect the consumer? And vice versa, who will protect the seller. This is where the government steps in and imposes price controls. Price controls are imposed to help or protect particular parts of the population which would be treated unequitably by the unfettered price system.

With today's technology, many farmers around the world find themselves producing far more than they can sell or a surplus and this drives down prices. Therefore to support the farmers, many governments have created p

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Hence, a policy to cut back on rice acreage was introduced.

But this policy had its drawbacks. All the while, the industrial sector began creating massive profits. Although this policy helped farmers, it became a great strain on the government and taxpayers.

With this price control the government ran into many problems. But Japanese farmers still produced more crops, namely rice, then they could sell, and this drove prices down and dwindled their profits. It therefore abolished the Food Staple Control Act which implemented this price policy and replaced it with the New Food Staple Control Act in November 1995. rice floors to increase the income of their farmers who without them would fail to make a living profit. While it succeeded in that aspect, the government and its people were hurt more by this policy. And so they began to resort to price controls to protect agriculture. By doing this they were sure to increase the income of farmers. Another hindrance in price control is a segregated overseas and domestic market. The only way for the government to retain this kind of price policy and maintain agricultural income is by closing off its borders form imports.

During the 1960s, Japan was in a stage of extraordinarily rapid growth. The increased price drew away buyers, resulting in an excessive surplus of rice.

Common topics in this essay:
Control Japan, Act November, Control Act, price policy, price control, price controls, increase income farmers, Staple Control, Food Staple, staple control act, food staple control, control act, free market, price floors, staple control, price rice, food staple, set price,

Approximate Word count = 641
Approximate Pages = 3 (250 words per page double spaced)

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