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When the government fix the price of essential commodities, this is referred to ...


Question

When the government fix the price of essential commodities, this is referred to as:

Options

A)
Price equilibrium
B)
Price control
C)
Demanded price
D)
Asking price

The correct answer is B.

Explanation:

Price control policy refers to how the government or its agency fixes the price of essential commodities. Price control is carried out in Nigeria by the price control board.

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Dicussion (1)

  • Price control policy refers to how the government or its agency fixes the price of essential commodities. Price control is carried out in Nigeria by the price control board.

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