When Government fix the minimum price of any commodity this move of government is known by: Option 1: Price Ceiling. Option 2: Price Discrimination. Option 3: Floor Price. Option 4: Price Rigidity.

The answer is 'Floor Price.'. View full solution:

CUET Economics - When Government fix the minimum price of any commodity this move of government is known by: | PYQs + Solutions

CUET Economics 2025 28 May Shift 2

Micro

Easy

Price Ceiling.

Price Discrimination.

Floor Price.

Price Rigidity.

✅ Correct Option: 3

Related questions:

29 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Perfect Competition	(I) No change in equilibrium price
(B) Increase in Demand= Decrease in Supply	(II) Price taking Behavior
(C) Increase in Demand > Decrease in Supply	(III) Decrease in equilibrium price
(D) Increase in Supply > Decrease in Demand	(IV) Increase in equilibrium price

Choose the correct answer from the options given below:

16 May Shift 1

Identify the correct sequence due to which firms under perfect competition earn normal profits in the long run.

(A) The firms are earning less than normal profit at the prevailing price.

(B) The profits of each firm will increase to the level of normal profit.

(D) Some firms will exit, which will lead to an increase in price.

Choose the correct answer from the options given below:

13 May Shift 2

What are the key components of a perfectly competitive market?

(A) Large number of buyers and sellers.

(B) Homogeneous product.

(D) Asymmetric Information.

Choose the correct answer from the options given below: