A price set by some form of administrative process, rather than determined by market clearing. The levels of, and changes in, administered prices often require the consent of the government or of some official regulatory body. Administered prices may be maxima, as in the case of rent controls, or minima, as with minimum wage laws and some agricultural policies that help guarantee income levels for farmers. Other supporting measures, such as quantitative restrictions, subsidies, and government stockpiles, are used to sustain the administered price.