[amp_mcq option1=”Fares charged by Airlines in India” option2=”Price printed on biscuit packets” option3=”Minimum support price for cane growers” option4=”Minimum wages fixed by state Governments” correct=”option3″]<\/p>\n
The correct answer is (c).<\/p>\n
A price ceiling is a government-imposed maximum price that can be charged for a good or service. The purpose of a price ceiling is to protect consumers from being exploited by sellers who may charge exorbitant prices, especially in times of high demand.<\/p>\n
In the case of minimum support price for cane growers, the government sets a minimum price that sugar mills must pay to farmers for their sugarcane. This is done to ensure that farmers receive a fair price for their produce and are not exploited by sugar mills.<\/p>\n
The other options are not examples of price ceilings.<\/p>\n
(a) Fares charged by Airlines in India are determined by the market forces of demand and supply. The government does not interfere in the pricing of airfares.<\/p>\n
(b) Price printed on biscuit packets is the price that the manufacturer decides to charge for its products. The government does not impose any restrictions on the prices of goods that are sold in the market.<\/p>\n
(d) Minimum wages fixed by state Governments are the minimum wages that employers must pay to their employees. These wages are set by the government to ensure that workers are not paid less than a living wage.<\/p>\n","protected":false},"excerpt":{"rendered":"
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