Post Utme Bells University 2022 Economics Question 20

Practice objective / multiple choice question 20 from the 2022 Post Utme Bells University Economics examination.

Post Utme Bells University 2022 Economics Objective / Multiple Choice
Question 20 POST_UTME_BELLS_UNIVERSITY • 2022 • ECONOMICS • objective

U\sing the concept of supply and demand, explain why a price ceiling may lead to a shortage in the market.

Answer Options

Correct Answer A. A price ceiling may lead to a shortage in the market because it restricts the supply of a good.
B. A price ceiling may lead to a shortage in the market because it increases the demand for a good.
C. A price ceiling may lead to a shortage in the market because it has no effect on the supply and demand of a good.
D. A price ceiling may lead to a shortage in the market because it decreases the demand for a good.
Correct Answer
A
Correct Option:
A price ceiling may lead to a shortage in the market because it restricts the supply of a good.

About This Question

This is Post Utme Bells University 2022 Economics Question 20. It is one of the objective questions from the 2022 Post Utme Bells University Economics examination.

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