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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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