THE Department of Agriculture (DA) has added a new term to the economic and business lexicography: 'maximum suggested retail price' or MSRP. It is obviously a variation of 'suggested retail price' (SRP), the recommended amount that a retailer should sell a product for.

SRPs are meant to standardize prices across different stores and locations to protect consumers from abusive retailers. However, retailers are not always required to follow it and can set their own prices based on various factors, such as competition, location, and demand.