WAEC Economics 2021 Objective — Question 14
Question 14 of 50 from the West African Examinations Council (WAEC) Economics 2021 Objective paper, with the correct answer and a full explanation.
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14. Governments can increase farmers' incomes by
- A. fixing maximum prices.
- B. fixing minimum prices.Correct
- C. encouraging them to produce surplus output.
- D. increasing taxes on inputs.
Explanation
Setting a minimum (support) price above the market price allows farmers to sell at a guaranteed higher price, raising their income.
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