From Longman Dictionary of Contemporary Englishprice supportˈprice supˌport noun [uncountable] PEa system in which the government keeps the price of a product at a particular level by giving the producer money or buying the product itself
Examples from the Corpus
price support• A switch from price support to income support comes dear.• The answer seemed to point to substantial cuts in price support together with a better re-distribution of budget towards smaller producers.• These provided for cuts which would nevertheless increase price support spending by 30 percent to ECU32,500 million.• On the economic side, there is no doubt that price support must be reduced to nearer world levels.From Longman Business Dictionaryprice supportˈprice supˌportECONOMICS a system in which a government pays farmers the difference between the real market price for their products and a higher agreed priceThe strength of the farm lobby prompted the US administration to operate a price support system. → support 