Summary of Price Supports
A program of governmental action designed to stabilize or lift the price that producers receive for their products. These actions may include direct cash payments, government purchase of output to force up market prices, or special financing. Such supports are most commonly applied to agriculture.
(Main Author: William J. Miller)
Price Supports and International Trade Economy
In relation to international trade economy, Christopher Mark (1993) provided the following definition of Price Supports: A program of official measures, most commonly applied to agriculture, designed to stabilize or raise the price that producers receive for their products. Price supports may include cash payments, government purchases of output, or special financing programs.