Post Utme Coal City University 2018 Economics Question 11

Practice objective / multiple choice question 11 from the 2018 Post Utme Coal City University Economics examination.

Post Utme Coal City University 2018 Economics Objective / Multiple Choice
Question 11 POST_UTME_COAL_CITY_UNIVERSITY • 2018 • ECONOMICS • objective

The government of a country has decided to implement a policy of price control to reduce inflation. However, this policy may lead to a shortage of goods in the market. What is the opportunity \cost of this policy?

Answer Options

A. The opportunity \cost is the reduction in the quality of goods available in the market.
B. The opportunity \cost is the increase in the prices of goods in the market.
Correct Answer C. The opportunity \cost is the reduction in the quantity of goods available in the market.
D. The opportunity \cost is the increase in the demand for goods in the market.
Correct Answer
C
Correct Option:
The opportunity \cost is the reduction in the quantity of goods available in the market.

About This Question

This is Post Utme Coal City University 2018 Economics Question 11. It is one of the objective questions from the 2018 Post Utme Coal City University Economics examination.

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