Post Utme Unilag 2017 Economics Question 21

Practice objective / multiple choice question 21 from the 2017 Post Utme Unilag Economics examination.

Post Utme Unilag 2017 Economics Objective / Multiple Choice
Question 21 POST_UTME_UNILAG • 2017 • ECONOMICS • objective

The government of a country decides to implement a policy of price control to combat inflation. However, the policy leads to a shortage of essential goods. Which of the following is a likely consequence of this policy?

Answer Options

A. Increased demand for essential goods
Correct Answer B. Reduced production of essential goods
C. Increased supply of essential goods
D. Decreased inflation rate
Correct Answer
B
Correct Option:
Reduced production of essential goods

About This Question

This is Post Utme Unilag 2017 Economics Question 21. It is one of the objective questions from the 2017 Post Utme Unilag Economics examination.

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