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CUET Economics 2025 PYQs3 June Shift 1. Free, no login required.

Indian Economic Development

past year questions, CUET Economics 2025 3 June Shift 1

Rural Development

past year questions, Indian Economic Development, CUET Economics 2025 3 June Shift 1

Easy

The minimum assured price offered by the government to the farmers for the purchase of their output is called?

Solution

✅ Correct Option: 3

Option 1 -> Ceiling price is a maximum price set by government to protect consumers, not a minimum for farmers.

Option 2 -> Equilibrium price is determined by market forces where demand equals supply, not government-assured.

Option 3 -> Support price is the minimum guaranteed price offered by government to farmers for their produce.

Option 4 -> Market price is determined by demand and supply forces in the market, not government-guaranteed.

Hence, Support price -> The minimum assured price offered by the government to farmers is called Support Price or Minimum Support Price (MSP). It is a form of market intervention to protect farmers from price fluctuations and ensure they receive a fair return for their crops. The government announces MSP for various crops before sowing season to provide price assurance to farmers. -> correct

Related questions:

2026: 31 May Shift 1

For which sector's produce, the government declares minimum support price.

2026: 13 May Shift 1

According to the passage, what opportunities farmers need to provide for diversification:

2023: 30 May Shift 1

Match List - I with List - II.

List - IList - II
(A) Swarna Jayanti Shahari Rozgar Yojana (SJSRY)(I) Encourage saving and lending among members as small loans
(B) Self Help Groups (SHGs)(II) Self employment in urban areas
(C) Work for a minimum of 100 days in a year(III) Pradhan Mantri Jan Dhan Yojna
(D) Transfer of subsidies to account holder directly(IV) MNREGA

Choose the correct answer from the options given below :

2022: 19 July Shift 2

Government has announced the scheme of 'Jan Dhan Yojana' to encourage adults to open bank accounts. Which of the following is incorrect about the scheme ?

(A) The account holders get an accidental insurance coverage.

(B) Wages, social security payments and old age pension directly get transferred to bank accounts.

(C) There is a need to keep a minimum bank balance.

(D) The account does not allow overdraft facilities.

(E) This scheme promotes thrift habit.

Choose the correct answer from the options given below :

2023: 28 May Shift 2

Which apex body was set up to coordinate the activities of all institutions involved in the rural financing system ?

2023: 29 May Shift 2

A farmer want to take credit to meet his expenditure in agriculture inputs. Which of the following is not an institution he may approach for the credit ?

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