state gov APPSC (ఆంధ్రప్రదేశ్) Group 2 (Pre + Mains) Mock Test 2023 Current Affairs Business and Economy
Consider the following statements regarding the Minimum Support Price (MSP):
1. MSP is a market-driven price determined by the forces of supply and demand.
2. MSP currently serves as a legally guaranteed price for crops, ensuring farmers' financial security.
Which of the statements given above is/are correct?
1
1 only
2
2 only
3
Both 1 and 2
4
Neither 1 nor 2