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