The minimum assured price offered by the government to the farmers for the purchase of their output is called____________.

ceiling price.

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equilibrium price.

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support price.

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market price.

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Solution

The correct option is C support price.
The minimum assured price offered by the government to the farmers for the purchase of their output is called support price. This helps the farmers to get adequate remuneration for their crop yield. It saves the customers from losses.

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Similar questions

Q. Identify the term used for an agricultural product price set by the Government of India to purchase directly from the farmers.

Q. The minimum guaranteed price at which the government offers to purchase any quantity is known as ______.

Q16. Consider the following statements about Minimum Support Prices (MSP):

1. MSP is the price at which government purchases crops from the farmers, whatever may be the price for the crops.

2. The minimum support prices are announced by the Government of India at the beginning of the sowing season for certain crops on the basis of the recommendations of the Ministry of Agriculture.

Which of the above statements are correct?

Q. Farmers are paid a pre-announced price by the government for their crops. It is called _______.

Q. Choose the correct option.

Statement I: Minimum Support Price acts as an incentive for farmers to grow more crops.

Statement II: Minimum Support Price is determined by the farmers.

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The minimum assured price offered by the government to the farmers for the purchase of their output is called____________.

The correct option is C support price.The minimum assured price offered by the government to the farmers for the purchase of their output is called support price. This helps the farmers to get adequate remuneration for their crop yield. It saves the customers from losses.

The correct option is C support price.
The minimum assured price offered by the government to the farmers for the purchase of their output is called support price. This helps the farmers to get adequate remuneration for their crop yield. It saves the customers from losses.