The Theory Of Price Determination - Economics Jamb Past Questions and Answers

Question 81 :

• JAMB 2013

One of the criticisms of the price mechanism is that

A. Producers are sovereign
B. It provides low degree of freedom
C. It widens the inequitable gap
D. Consumers are sovereign

Question 82 :

• JAMB 2013

In Nigeria, government can reduce the cost of accommodation by fixing rent

A. At the prevailing rate
B. At the equilibrium price
C. Above the equilibrium price
D. Below the equilibrium price