When the government fix the price of essential ... - JAMB Economics 2017 Question
When the government fix the price of essential commodities, this is referred to as:
A
Price equilibrium
B
Price control
C
Demanded price
D
Asking price
correct option: b
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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