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Define price floor? And it's effects

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Define price floor? And it's effects

Posted by Teresa Rose Boby 6 years, 3 months ago

CBSE > Class 12 > Economics

2 answers

Dyuti Nag 6 years, 3 months ago

It is fixing minimum price above the equilibrium price by the govt in favour of producers. Effect: it will lead to excess supply..it lead to increase in unsold stock.producers become unemployed ..as a result producers sell their stock at a price lower than minimum price

1Thank You

Shreya Bahiramwar 6 years, 3 months ago

It is minimum price of a commodity that a producer should get for the product in the market. It is fixed by the govt. Effects: Buffrr stock Unecessary burden on govt.

1Thank You

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CBSE > Class 12 > Economics