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Price fluctuation is a feature of

Economics
WAEC 2013

Price fluctuation is a feature of

  • A. common market
  • B. imperfect market
  • C. supermarkets
  • D. market failure
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Correct Answer: Option B
Explanation

Price fluctuation refers to the frequents rise and fall of commodity prices in the market as a result of changes in the market situations. price fluctuation can be seasonal whereby prices of commodities changes during certain season of the year due to the increase in supply and demand. It is a feature of imperfect market where buyers and sellers can influence prices and production


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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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