You visited us 1 times! Enjoying our articles? Unlock Full Access!

Byju's Answer

Standard VI

Civics

Minimum Support Price

In agricultur...

Question

In agricultural sector, for determination of price, which of the following policies is followed ________?

minimum support prices

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

demand & supply interplay

No worries! We‘ve got your back. Try BYJU‘S free classes today!

regulated prices

No worries! We‘ve got your back. Try BYJU‘S free classes today!

None of the above

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B minimum support prices
Minimum support price is the price at which the government purchases crops from the farmers, whatever may be the price for the crops. Minimum support price is an important part of India's agricultural policy. Hence, in agricultural sector, for determination of price minimum support prices policies is followed.

Suggest Corrections

Similar questions

Q97. Which of the following are the determinants for MSP:

1. Cost of production

2. Terms of trade between agriculture and non-agriculture sectors

3. Inter-crop price parity

4. Demand and supply conditions

Select the correct answer using the codes given:

Multiple choice questions

(i) Which one of the following describes a system of agriculture where a single crop is grown on a large area?

(a) Shifting Agriculture

(b) Plantation Agriculture

(d) Intensive Agriculture

(ii) Which one of the following is a rabi crop?

(a) Rice

(b) Gram

(d) Cotton

(iii) Which one of the following is a leguminous crop?

(a) Pulses

(b) Jawar

(d) Sesamum

(iv) Which one of the following is announced by the government in support of a crop?

(a) Maximum support price

(b) Minimum support price

(d) Influential support price

Consider the following demand and supply functions for a good.

Quantity demanded = 160 - 2p

Quantity supplied = - 40 + 2p

(i) Calculate the equilibrium price and quantity.

(ii) Find out a price at which there is excess demand.

(iii) Find out a price at which there is excess supply.

Which of the following does not explain the impact of government policy changes on business and industry?

(a) More demanding customers

(b) Increasing competition

(d) Market orientation

Which of the following is not a factor for determining the price elasticity of demand?

Join BYJU'S Learning Program