price floor

Thesaurus

Noun

price floor - floor below which prices are not allowed to fall; "the government used price supports to maintain the price floor"floor, base - a lower limit; "the government established a wage floor"

price floor

Price Floor

The lowest price for a good or service permitted by a government. A government may impose a price floor to protect a favored industry and/or to keep employees working at a reasonable wage. Price floors are particularly common in agriculture. Many economists believe setting price floors is economically inefficient and limits demand in the market, causing an oversupply of the controlled good or service.

price floor

the minimum PRICE that can be charged for a PRODUCT as determined by the government. Contrast PRICE CEILING. See PRICE CONTROLS, PRICE SUPPORT, MINIMUM WAGE RATE, COMMON AGRICULTURAL POLICY.

price floor

noun

Words related to price floor

noun floor below which prices are not allowed to fall

Related Words

floor
base

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