Option 1 -> Ceiling price is a maximum price set by government to protect consumers, not a minimum for farmers.
Option 2 -> Equilibrium price is determined by market forces where demand equals supply, not government-assured.
Option 3 -> Support price is the minimum guaranteed price offered by government to farmers for their produce.
Option 4 -> Market price is determined by demand and supply forces in the market, not government-guaranteed.
Hence, Support price -> The minimum assured price offered by the government to farmers is called Support Price or Minimum Support Price (MSP). It is a form of market intervention to protect farmers from price fluctuations and ensure they receive a fair return for their crops. The government announces MSP for various crops before sowing season to provide price assurance to farmers. -> correct