What is meant by price floor? - Vidyadip

Question

What is meant by price floor?

✓

Answer

Price floor refers to the minimum price fixed by the government above the market determined price so that the producers may not suffer losses.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "1 Marks Question" from Market Equilibrium→Market Equilibrium — all question types→Economics STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

State any one feature of monopolistic competition.

What is meant by MU of one rupee?

What is planned economy?

If the firm in the toothpaste industry have the following market shares, which market structure would best describe the industry?

S. No	Market Share	(% of market)
1.	Toothpaste	18.7
2.	Dentipaste	14.3
3.	Shinibright	11.6
4.	I can't believe its not toothpaste	9.4
5.	Brighter than white	8.8
6.	Pastystuff	7.4
7.	Others	29.8

A producer starts the business in the building owned by him and borrows money for running it. Identify implicit cost.

What is meant by the term 'price taker' in the context of a firm?

Define Production Possibility Curve er and state its properties.

What is the relation between Average Variable Cost and Average Total Cost, if Total Fixed Cost is zero?

Define market demand.