Question 10

(a) With the aid of a diagram, explain the effects of fixing a price (i) above the equilibrium price, 
(ii) below the equilibrium price [5 marks each]
(b) (i) What is an abnormal demand? [4 marks] (ii) Give two reasons for its occurrence [6 marks] 
 

Theory

Question details

Exam body
WAEC
Subject
Economics
Year
2009
Question no.
#10
Type
Theory

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