Myschool CBT Challenge Season 6 - Prizes Worth N300,000 To Be Won!

Price control cannot work in Nigeria because

Price control cannot work in Nigeria because
  • A. the population is too large
  • B. the policemen hate to arrest people
  • C. while it is fairly easy to control producers and importing firms, smaller distributors are too many to be controlled
  • D. control cannot work under military rule
  • E. too many things are produced in the country
Correct Answer: Option C
Explanation
No official explanation is available for this question at this time. Please check contributions posted by others below. If you can provide an explanation to help other student learn, please click here

Report an Error Ask A Question Download App

Contributions (9)

pascal Nelly
5 years ago
The fact is,the existence of black market in the country has deriled the workings of the price control system,due to their incessant hiking of the normal price level
Mosab
7 years ago
In Nigeria small firms has been on the increase their number is growing every day as a result their activities can not be easily check thereby giving rise to the inability of price control board to regulate the prices of products in the country.
elvisu
5 years ago
Why is C the correct answer

this question is really Weird
spefic
3 years ago
yes d answer is c becos mer looking at d kind of economic system been operated in africa,it allaws the existense of small firm dew to d limited reasource which retailers use in starting up business in africa with out even registring d business,,,,,,,,we west africans are still developing nation not like d british.......so in west afica we can not control retail business
Gudnews igbogi
6 years ago
I agree wit u. cos me 2 i wil do dsame tin 2 buy d nearby product 4 smal money.
blssing
3 years ago
it can,t work bc one man business is much in Nigeria
mobeenet
5 years ago
going with the question. I think the question is ambiguous so we have to deal with it in its ambiguous way. government fixing the prices of goods above or below equilibrium price cannot work in Nigeria because consumers are willing and ready to buy goods at lower prices than at higher prices and producers are ready to supply their goods for sale at higher price.
olubunmi
10 months ago
the answer is C
Ama Udoh Camilla
4 years ago
well done @ bako

Quick Questions

Post your Contribution

Please don't post or ask to join a "Group" or "Whatsapp Group" as a comment. It will be deleted. To join or start a group, please click here

 
JAMB 2020 CBT Software - Download Now, It's Free!
JAMB 2020 CBT Mobile App - Download Now, It's Free!
JAMB 2020 CBT Software Agents - Click Here to Apply