What does price support mean?
Definitions for price support
price sup·port
This dictionary definitions page includes all the possible meanings, example usage and translations of the word price support.
Princeton's WordNet
price supportnoun
a government subsidy used to maintain prices at a certain level
ChatGPT
price support
Price support is an economic policy tool used by governments where they set a minimum price that can be charged for certain goods or commodities to prevent their prices from falling below a certain level. This is often done in agricultural sectors to stabilize the market, protect domestic producers against price fluctuations, assure a constant supply of the commodity, and to safeguard producers' incomes.
Wikidata
Price support
In economics, a price support may be either a subsidy or a price control, both with the intended effect of keeping the market price of a good higher than the competitive equilibrium level. In the case of a price control, a price support is the minimum legal price a seller may charge, typically placed above equilibrium. It is the support of certain price levels at or above market values by the government. A price support scheme can also be an agreement set in order by the government, where the government agrees to purchase the surplus of at a minimum price. For example, if a price floor were set in place for agricultural wheat commodities, the government would be forced to purchase the resulting surplus from the wheat farmers and store or otherwise dispose of it.
Matched Categories
Numerology
Chaldean Numerology
The numerical value of price support in Chaldean Numerology is: 3
Pythagorean Numerology
The numerical value of price support in Pythagorean Numerology is: 5
Examples of price support in a Sentence
The Brent trade remains surprisingly stout in continuing a sideways or consolidation phase that is approaching one month in duration, since Jim Ritterbusch have some difficulty constructing a fundamental argument for Brent price support, we are attributing most of the strengthening in Brent versus WTI to the continued build in U.S. crude supplies, particularly at Cushing.
It's more confirmation that oil producers are close to achieving some kind of a deal on price support, it's feeding bullish sentiment into a market that's turned 180 degrees from where it stood just weeks ago.
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"price support." Definitions.net. STANDS4 LLC, 2024. Web. 23 Apr. 2024. <https://www.definitions.net/definition/price+support>.
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