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Question
What is the primary purpose of Minimum Support Prices (MSP)?
Options
To encourage private traders to enter markets
To reduce exports of agricultural commodities
To increase consumer demand for agricultural products
To protect farmers' incomes
MCQ
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Solution
Minimum Support Prices (MSP) is a policy instrument designed to protect farmers' incomes by guaranteeing a minimum price for their produce, helping them avoid losses during market downturns.
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