Government intervention to set an artificially high price through the use of a price floor designed to aid producers. Bloomberg Financial Dictionary
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price support UK US noun [U]
► ECONOMICS, COMMERCE the situation in which a government protects companies, or producers such as farmers, by making sure that prices of particular products or services do not fall below a certain level: »
We have been active supporters of increasing dairy commodity prices under the Dairy Product Price Support Program.
Financial and business terms. 2012.