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Which one of the following is announced by the government in support of a crop? 

(A)Maximum Support Price

(B) Minimum Support Price

(C) Moderate Support Price

(D)Influential Support Price

Answer: 

So, the correct answer is (B): Minimum Support Price 

Explanation

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  • The minimum Support Price (MSP)   is th e cost that the government sets for the agricultural products that they buy directly from farmers. 
  • The government establishes minimum support prices to prevent farmers from getting exploited by middlemen and from price fluctuations. 
  • It is announced by the government before the beginning of a cropping season .

 

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Davneet Singh

Davneet Singh has done his B.Tech from Indian Institute of Technology, Kanpur. He has been teaching from the past 14 years. He provides courses for Maths, Science and Computer Science at Teachoo