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    Question

    What is the complete term for 'MSP' in the context of

    agriculture?
    A Maximum Sanctioned Prices Correct Answer Incorrect Answer
    B Minimum Support Prices Correct Answer Incorrect Answer
    C Marginalized Systematic Prices Correct Answer Incorrect Answer
    D None of the above Correct Answer Incorrect Answer

    Solution

    MSP stands for Minimum Support Prices. It represents a government-guaranteed price aimed at securing agricultural producers against any sharp fall in farm prices. This system ensures that farmers are not adversely affected during bumper production phases by providing a safety net.

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