support prices

USAGE SUMMARY

The phrase "support prices" is correct and usable in written English.
It can be used to refer to prices that are established or maintained by a government or another organization to protect certain industries. For example, "The government has implemented support prices for farmers in an effort to protect their agricultural industry."

✓ Grammatically correct

News & Media

Encyclopedias

Science

Human-verified examples from authoritative sources

Exact Expressions

60 human-written examples

Politics will further support prices.

The New York Times

The kingdom has for years restrained output to support prices.

The Economist

Right now there is a lot of demand to support prices".

The New York Times

But in many places, these pillars no longer fully support prices in the upper range.

The New York Times

Instead of trying to support prices, it decided to maintain market share.

The Guardian - Business

Under current law, dairy support prices could drop as low as about $8.60.

The New York Times

The lowering of support prices was accompanied by a substantial increase in the size of direct payments to farmers.

Encyclopedia Britannica

He wants to cut EU support prices by 30% for beef, 20% for cereals and 10% for dairy produce.

The Economist

"Our evidence convincingly shows that bans are bad for liquidity and do not help to support prices.

The Guardian - Business

De Beers's shrinking share of the market was making it harder to support prices by sopping up gems itself.

The New York Times

The Chinese lunar new year may also spur gold-buying in Asia which could support prices, too.

The Guardian - Business

Expert writing Tips

Best practice

When discussing "support prices", be specific about the commodity or market being supported and the entity providing the support (e.g. a government, organization, etc.).

Common error

Avoid implying that "support prices" represent the true market value of a commodity. They are often artificial interventions designed to protect producers, and can distort market signals.

Linguistic Context

The phrase "support prices" functions as a noun phrase, typically acting as the object of a verb or preposition. It refers to a system or policy aimed at maintaining prices, often in the context of agriculture or commodities as Ludwig AI confirms. It's essential to provide context to clarify what entity and commodity relates to this phrase.

Expression frequency: Very common

Frequent in

News & Media

61%

Science

16%

Encyclopedias

12%

Less common in

Formal & Business

9%

Reference

1%

Wiki

0%

Ludwig's WRAP-UP

The phrase "support prices" is a common term used to describe interventions, usually by governments, to keep prices of certain commodities or products from falling too low. Ludwig AI confirms that the phrase is correct and usable in written English. It's most frequently found in news and media contexts but also appears in academic and scientific discussions. When using the phrase, it’s important to be specific about what is being supported, and to avoid implying that these prices represent true market value. Alternatives include "price stabilization" or "price floors". Misunderstanding or misuse of the phrase can lead to inaccurate interpretations of economic policies and market dynamics.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

commodity price support

More specific, referring to government support of agricultural commodity prices.

price stabilization

Focuses on the action of making prices stable, rather than the mechanisms used to achieve it.

price floors

Technical term for a minimum price set by a government or organization.

price maintenance

Emphasizes keeping prices at a certain level, potentially through artificial means.

minimum price levels

Focuses on setting minimums to avoid collapse in market prices for different items.

price controls

Highlights the controlling aspect of the intervention, often by a government.

price guarantees

Implies a promise or assurance that prices will not fall below a certain level.

market intervention

Broader term referring to any action that affects the market, including price support.

price undergirding

A less common term that suggests providing a foundation to prevent prices from falling.

artificially inflated prices

Highlights a negative connotation when prices are not reflecting true market values.

FAQs

What does "support prices" mean in economics?

In economics, "support prices" refers to a government intervention to maintain the price of a commodity above a certain level, often to protect producers. This can involve buying up surplus or setting "minimum price levels".

How do governments implement "support prices"?

Governments may implement "support prices" by purchasing excess supply, imposing import restrictions, or providing subsidies to producers. These actions aim to prevent prices from falling below the desired level.

What are the potential consequences of using "support prices"?

While "support prices" can help producers, they may also lead to overproduction, market distortions, and increased costs for consumers or taxpayers. They can also discourage efficiency improvements.

What are some alternatives to "support prices"?

Alternatives to "support prices" include direct payments to farmers, crop insurance programs, and investments in agricultural research and development. These approaches may address producer needs without distorting market prices.