Answer :
Final answer:
Minimum wage and farming price control are examples of price floors, which are government interventions to set a minimum price for a product or service to protect producers and their income level.
Explanation:
Minimum wage and farming price control are examples of price floors, a type of government intervention in the market that sets a minimum price for a product or service. In the case of minimum wage, it ensures that workers receive a certain level of payment. For farming price control, it ensures that farmers receive a minimum price for their produce. Price floors are used to protect producers and maintain a certain level of income or profitability.
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