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

Suppose the Income of consumers in a market increase. How will this effect the equilibrium price of the commodity, assuming that it is a normal good?

(A) There is excess demand at the existing price.

(B) Rising price leads to contraction in demand and expansion in supply and a new equilibrium price is attained, which is higher than the initial price.

(D) There is upward pressure on the price and price starts rising.

Choose the correct answer from the options given below:

30 May Shift 1

Arrange the stages of price determination in a perfect competition market:

(A) Estimate the market demand and supply.

(B) Firms adjust production to maximize profit.

(D) Short-run profit attracts new firms.

Choose the correct answer from the options given below:

CUET Economics 2025 28 May Shift 2 PYQs

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