Post Utme Oau 2021 Commerce Question 6

Practice objective / multiple choice question 6 from the 2021 Post Utme Oau Commerce examination.

Post Utme Oau 2021 Commerce Objective / Multiple Choice
Question 6 POST_UTME_OAU • 2021 • COMMERCE • objective

In a market economy, the law of supply and demand determines the price of a commodity. However, the government may intervene to regulate prices in order to protect consumers. Which of the following is a potential consequence of government price regulation?

Answer Options

A. Increased competition among firms
B. Reduced consumer choice
Correct Answer C. Inefficient allocation of resources
D. Increased government revenue
Correct Answer
C
Correct Option:
Inefficient allocation of resources

About This Question

This is Post Utme Oau 2021 Commerce Question 6. It is one of the objective questions from the 2021 Post Utme Oau Commerce examination.

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