2020 · Q62
Fixation of price levels for wheat and rice by the Commission for Agriculture Costs and Prices (CACP) is an example of?
indian-polity-economyeconomy-fundamentals
- AAdministered Price
- BMarket Price
- CControl Price
- DSupport Price
Explanation
The Commission for Agricultural Costs and Prices recommends Minimum Support Prices — a floor price at which the government procures wheat and rice from farmers. Such a floor is a support price, not an administered, market or control price.