Post Utme Unn 2023 Economics Question 10

Practice objective / multiple choice question 10 from the 2023 Post Utme Unn Economics examination.

Post Utme Unn 2023 Economics Objective / Multiple Choice
Question 10 POST_UTME_UNN • 2023 • ECONOMICS • objective

The government of a country has decided to implement a policy of price control to reduce the prices of essential goods. U\sing the concept of supply and demand, explain why the policy may not be effective in achieving its objectives.

Answer Options

A. The policy will lead to a decrease in the supply of essential goods, which will increase the prices.
B. The policy will lead to an increase in the demand for essential goods, which will decrease the prices.
C. The policy will have no effect on the supply and demand of essential goods, but will lead to a decrease in the prices.
Correct Answer D. The policy will lead to a decrease in the demand for essential goods, which will increase the prices.
Correct Answer
D
Correct Option:
The policy will lead to a decrease in the demand for essential goods, which will increase the prices.

About This Question

This is Post Utme Unn 2023 Economics Question 10. It is one of the objective questions from the 2023 Post Utme Unn Economics examination.

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