Post Utme Redeemers University 2021 Economics Question 30

Practice objective / multiple choice question 30 from the 2021 Post Utme Redeemers University Economics examination.

Post Utme Redeemers University 2021 Economics Objective / Multiple Choice
Question 30 POST_UTME_REDEEMERS_UNIVERSITY • 2021 • ECONOMICS • objective

The government of Nigeria has introduced a new policy aimed at increa\sing agricultural production. The policy involves the provision of subsidies to farmers who produce crops such as maize, rice, and wheat. U\sing the concept of supply and demand, determine the likely effect of this policy on the price of maize.

Answer Options

A. The price of maize will increase
Correct Answer B. The price of maize will decrease
C. The price of maize will remain unchanged
D. The price of maize will increase by 10%
Correct Answer
B
Correct Option:
The price of maize will decrease

About This Question

This is Post Utme Redeemers University 2021 Economics Question 30. It is one of the objective questions from the 2021 Post Utme Redeemers University Economics examination.

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