When Government fix the minimum price of any commodity this move of government is known by:

Floor Price.

The correct answer is Option (3) → Floor Price.

When the government fixes the minimum price for a commodity above the equilibrium price, it is known as a Floor Price (or Minimum Support Price in agriculture).

• It ensures producers receive a minimum income, even if the market price falls.

• It is often used to protect farmers or small-scale producers.

Why other options are incorrect:

• Price Ceiling: Maximum price fixed below equilibrium to protect consumers (e.g., rent control).

• Price Discrimination: Charging different prices from different consumers for the same product.

• Price Rigidity: Prices don’t change easily even when supply or demand changes.