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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 a example of a government price control?
minimum wage
Price floor is a minimum price fixed by the government. True or False?
True
Which selection is an example of a government price control?
minimum wage
How is price floor different from price ceiling?
A price floor is the minimum price set by the government where as a price ceiling is the maximum price sellers can charge for a good or service.
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 a example of a government price control?
minimum wage
Price floor is a minimum price fixed by the government. True or False?
True
An example of price floor?
A price floor is government imposed limit on how low a price can be charged for a product or service. An example of a price floor in the US are minimum wage laws. The government has set the minimum wage that a company can pay an employee.
What is price floors?
The lowest legal price that can be paid for a good or service.
Which selection is an example of a government price control?
minimum wage
What is it called when the government sets a price on earnings?
Minimum wage.
When the government sets a price floor on earnings it is called what?
Minimum wage.
How is price floor different from price ceiling?
A price floor is the minimum price set by the government where as a price ceiling is the maximum price sellers can charge for a good or service.
What is minimum price legislation?
The minimum price legislation is the commodity sold at any price price below the one stated example government or authorities. The intention is to protect the supplier at times when the market id at equilibrium and price tends to fall (due surplus). To be effective, a minimum price must be set above prevailing current market equilibrium price. Also there should be no cheating.
Is price ceiling an example of the minimum wage?
No, a price ceiling is not an example of minimum wage. A price ceiling is a government-imposed limit on how high a price can be charged for a product, often intended to keep essential goods affordable. In contrast, minimum wage is a legal requirement that sets the lowest amount an employer can pay an employee for their labor. While both are forms of government intervention in the market, they apply to different contexts: price ceilings apply to goods and services, while minimum wage applies to labor.
What is the definition of an effective price floor?
Government sets the minimum selling price and prices of goods are not supposed to fall below this price. This Causes Surplus and purchasers Overpay.
