Definitions for "Price Floor"
A government-imposed lower limit on the price that may be charged for a product. If that limit is binding, it implies a situation of excess supply, which the government may need to purchase itself to keep price from falling.
A legally established minimum price for a good or service.
floor below which prices are not allowed to fall; "the government used price supports to maintain the price floor"
a price set and maintained by the government to artificially raise prices
Keywords:  imposed, lower, law, limit, products
The lower limit imposed on a products price by a price control law.
a situation where the price is not allowed to decrease below a certain level
Keywords:  above, law, good, level, requiring
a law requiring that a price for a certain good be kept above some level