Asked by Mohamed Hussien on Jun 26, 2024
Verified
Agricultural price-support programs result in consumers paying lower prices for the product.
Price-support Programs
Government initiatives aimed at maintaining the market price of agricultural products by buying up surplus stock or providing subsidies.
Agricultural
Relating to the science or practice of farming, including cultivation of the soil for the growing of crops and the rearing of animals to provide food, wool, and other products.
- Understand the effects of agricultural price-support programs on consumer prices.
Verified Answer
CF
Chanapai FeaungpongpimolJun 26, 2024
Final Answer :
False
Explanation :
Agricultural price-support programs typically involve the government setting a minimum price for certain agricultural products, which can lead to higher prices for consumers as the market price is artificially increased above what it might otherwise be in a free market.
Learning Objectives
- Understand the effects of agricultural price-support programs on consumer prices.