ECONOMICS
English
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Strictly For Economics Students in the Senior High School, in some countries, in the Senior Secondary School.
Description
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30
Questions
30 sec
Per question
5:49
Average time
Disqualified
Contest Score
4.5
Community Rating
19
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Unfortunately, this test will not be able to receive a prize:
Not an original test. Questions, answers, explanations were copied from an existing test. E.g.:
#q2 https://erudites.ng/an-outward-shift-of-the-production-possibility-curve-shows-that/
#q3 https://freepastquestions.com/waec-economics-2015/
#q4 https://freepastquestions.com/waec-economics-2015/
#q5 https://freepastquestions.com/waec-economics-2015/
The original verdict was confirmed to be correct.
21. Price fixed above the equilibrium is to
– Favour consumers
– Lower the prices of agricultural produce
– Discourage agricultural producers
– Protect agricultural producers
The given answer is – Lower the prices of agricultural produce.
The correct is TO PROTECT AGRICULTURAL PRODUCE.
Price fixed above equilibrium is known as price floor.
Link'
http://www.sanandres.esc.edu.ar/secondary/economics%20packs/microeconomics_sl/page_22.htm
And
https://opentextbc.ca/principlesofeconomics/chapter/3-4-price-ceilings-and-price-floors/
Tq