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this policy fixes the minimum prize of any sale able product by interfering in market driven prices. this aim's at protecting the interest of customer, seller and even both.
suppose farmer's producing, sugarcane had surplus production. this will reduce the price of sugarcane. in order to compensate there loss,government will intervene, to fix minimum price of procurement of sugarcane. in this case, government protected the loss of farmers. sugar manufacturing industries can't procure sugarcane below the minimum price fixed.
What else can I help you with?
Is a price floor a maximum or minimum price?
Minimum price Think floor is the bottom which is the minimum. Think ceiling is the top which is the maximum.
What is the minimum price of the share?
it's face value is the minimum price of the share
What is mean by minimum export price?
Minimum Export Price is the minimum price at which the government buys the agricultural produce (wheat, Rice etc) from the farmers.
What is the minimum sale price for a car?
The minimum sale price for a car is the lowest price at which the seller is willing to sell the car.
Is minimum price is market price?
yes
What is the minimum listing price of an item in an eBay Store?
There is no minimum listing price for single item listings.
What is the minimum selling price for this product?
The minimum selling price for a product is the lowest price at which it can be sold to cover the cost of production and make a profit.
A minimum price for a good or service?
price floor
What is a minimum price for a good or service?
price floor
Write a short note on minimum support price?
minimum
What is the term for the minimum price allowed by law?
Price floor
What is Minimum export price?
It is the minimum price at which a country can export its good. This kind of regulation helps in protection of national interests.
