Search results
We did not find results for: define price floor.
Check spelling or type a new query.
We did not find results for: define price floor.
Check spelling or type a new query.
Government- or group-imposed price control
A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product, good, commodity, or service. It is one type of price support; other types include supply regulation and guarantee government purchase price. A price floor must be higher than the equilibrium price in order to be effective. The equilibrium price, commonly called the "market price"... Wikipedia