Post Utme Unilorin 2018 Economics Question 19

Practice objective / multiple choice question 19 from the 2018 Post Utme Unilorin Economics examination.

Post Utme Unilorin 2018 Economics Objective / Multiple Choice

Question 19 POST_UTME_UNILORIN • 2018 • ECONOMICS • objective

The government of a country decides to implement a policy of price control to reduce inflation. However, the policy leads to a shortage of essential goods. What is the opportunity \cost of this policy?

Answer Options

A. The reduction in the supply of essential goods

B. The increase in the demand for essential goods

Correct Answer C. The decrease in the production of essential goods

D. The increase in the price of essential goods

Correct Answer

Correct Option:

The decrease in the production of essential goods

About This Question

This is Post Utme Unilorin 2018 Economics Question 19. It is one of the objective questions from the 2018 Post Utme Unilorin Economics examination.

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