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

Related questions:

28 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Upper limit on price of goods & services	(I) Leads to excess supply.
(B) Free entry and exit	(II) Equilibrium price = min AC of the firms.
(C) Marginal revenue product of labor (MRP_L)	(III) Leads to excess demand.
(D) Lower limit on price of goods & services	(IV) MR x MP_L.

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14 May Shift 1

Arrange the following statements related to negative externalities in correct sequence

(A) There is an oil refinery which refines crude petroleum and sells it in the market

(B) Pollution harms well-being and also kills fish or other organisms

(D) Such harmful effects that the refinery is inflicting on others, for which it will not bear any cost, are called externalities

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: