Post Utme Covenant University 2018 Economics Question 11

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

Post Utme Covenant University 2018 Economics Objective / Multiple Choice
Question 11 POST_UTME_COVENANT_UNIVERSITY • 2018 • ECONOMICS • objective

The government of a country has decided to implement a policy of price control to reduce inflation. However, the policy has led to a shortage of essential goods. Which of the following is a likely consequence of this policy?

Answer Options

A. Increased production of essential goods
B. Reduced demand for essential goods
Correct Answer C. Black market for essential goods
D. Increased employment in the manufacturing sector
Correct Answer
C
Correct Option:
Black market for essential goods

About This Question

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

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