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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