support price - definition in the Business English Dictionary - Cambridge Dictionaries Online

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English definition of “support price”

support price

noun [C]
 
 
ECONOMICS a price for something, for example for a food product, that is set by the government. If the real price falls below the support price, the government pays farmers, etc. the difference between the two prices: The government increased the support price for wheat.
(Definition of support price from the Cambridge Business English Dictionary © Cambridge University Press)
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