Option 1 -> Price Ceiling is a maximum price limit set by government, not a minimum price.
Option 2 -> Price Discrimination is charging different prices to different consumers for the same product.
Option 3 -> Floor Price is the minimum price set by government below which a commodity cannot be sold.
Option 4 -> Price Rigidity refers to prices that remain unchanged despite market fluctuations.
Hence, Option 3: Floor Price -> When the government fixes a minimum price for any commodity, it is called a Floor Price or Price Floor. This is a legally mandated minimum price below which the commodity cannot be sold. It is typically set above the equilibrium price to protect producers/sellers. Common examples include minimum wage laws (floor price for labor) and minimum support prices for agricultural products. The opposite of this is Price Ceiling, which sets a maximum price limit.-> correct