Which of the following scenarios best illustrates government intervention through price controls to correct a market failure?

Government intervention through price controls happens when the government steps in to set prices for goods or services to help correct problems in the market. For example, if the price of basic food items rises too high, making them unaffordable for many people, the government might set a maximum price, known as a price ceiling. This helps ensure that everyone can access essential foods, even if it means that producers earn less. However, if the ceiling price is too low, it can lead to shortages, as suppliers may not want to sell at that price. Thus, while price controls aim to help consumers, they can also create new challenges in the market.