WAEC Economics 2015 Objective — Question 16
Question 16 of 50 from the West African Examinations Council (WAEC) Economics 2015 Objective paper, with the correct answer and a full explanation.
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All the following are methods of determining prices except
- A. maximum pricing
- B. rationingCorrect
- C. minimum pricing
- D. auctioning
Explanation
Rationing is a method of allocating/distributing a scarce good (typically used alongside price controls), not itself a method of price determination like maximum/minimum pricing or auctioning.
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