The government-imposed lower limit on the price that may be charged for a particular good or service. What this lower limit is called ? Option 1: Price ceiling. Option 2: Price floor. Option 3: Price line. Option 4: Minimum price.

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

CUET Economics - The government-imposed lower limit on the price that may be charged for a particular good or service. What this lower limit is called ? | PYQs + Solutions

CUET Economics 2025 22 May Shift 2

Micro

Easy

Price ceiling.

Price floor.

Price line.

Minimum price.

✅ Correct Option: 2

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Price ceiling is one concept which provides safeguard to______

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Let us consider the example of a market consisting of identical farms producing the same quality of wheat. Suppose the market demand curve and the market supply curve for wheat are given by: qᵈ = 200 - p and qˢ = 120 + p. What is the equilibrium price?

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

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Choose the correct answer from the options given below:

CUET Economics 2025 22 May Shift 2 PYQs

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