The fixing of the price of an item above or below the equ...
The fixing of the price of an item above or below the equilibrium price is most likely to take place in a
Centrally planned economy
Free market economy
Developed economy
Mixed economy
Correct answer is B
In a free-market economy, the concept of price ceiling and price floor come to play. In this kind of market situation, the government can introduce laws to ensure that prices do not rise or fall beyond a particular amount.
Which of the following statement is TRUE of the effect of changes in demand and supply on price? ...
If the marginal propensity to save is 0.8, calculate the multiplier? ...
Which of the following would most likely be considered an example of benefit taxation? ...
Which of the following is NOT a factor that brings about changes in demand? ...
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One way of speeding up the economic development of a country is by encouraging ...
A major characteristic of natural resources is they ...
If the last naira spent on each commodity by a consumer gave him equal satisfaction, it means t...