JAMB Economics 2009 Objective — Question 14

Question 14 of 50 from the Joint Admissions and Matriculation Board (JAMB) Economics 2009 Objective paper, with the correct answer and a full explanation.

In a regulated market, price is determined by

A. consumers
B. producers
C. auction
D. governmentCorrect

Explanation

A regulated market is a market that is controlled by the government or its agencies. Prices of goods and services are regulated by the government.

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