Price ceiling is one concept which provides safeguard to

Option 1 -> Price ceilings harm producers by limiting the maximum price they can charge, potentially reducing profits.

Option 2 -> Intermediaries are not specifically protected by price ceilings and may face reduced margins.

Option 3 -> Consumers are protected as price ceilings prevent prices from rising too high, ensuring affordability of essential goods.

Option 4 -> Government implements price ceilings but is not the primary beneficiary of this policy.

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Hence, Option 3: Consumer -> A price ceiling is a maximum legal price set by the government below the equilibrium price. Its primary purpose is to protect consumers by making essential goods and services (like food, rent, medicine) more affordable, especially during times of shortage or inflation. By capping prices, consumers are safeguarded from being charged excessively high prices. -> correct