Reporting standards are guidelines that ensure the uniformity, consistency, and transparency of information presented in reports, particularly in research and financial contexts. They facilitate comparability, improve reliability, and enhance the credibility of the information shared with stakeholders or the public.
A price ceiling is a government-imposed limit on how high a price can be charged for a product, typically set below the equilibrium price to make goods more affordable. While it aims to protect consumers, it can lead to shortages, reduced quality, and black markets as suppliers may not find it profitable to sell at the imposed price.