A price that the government guarantees farmers will receive for a particular crop is a(n):
A) price ceiling.
B) price support.
C) deficiency price.
D) export price.

Question

Quizplus · Accepted Answer

Price support is a government policy that sets a minimum price for a commodity or product, typically agricultural in nature, by buying up any surplus at that minimum price. This policy is aimed at stabilizing farm incomes and ensuring that farmers can earn a decent living.

A Price That the Government Guarantees Farmers Will Receive for a Particular