JAMB Economics 2017 Objective — Question 34
Question 34 of 40 from the Joint Admissions and Matriculation Board (JAMB) Economics 2017 Objective paper, with the correct answer and a full explanation.
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One of the functions of the price system is that it
- A. encourages high volume of production
- B. dictates what the citizens will consume
- C. discourages the consumption of harmful goods
- D. regulates production and consumptionCorrect
Explanation
The price system regulates what is produced and consumed through the forces of demand and supply.
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