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JAMB Economics 2013 Question 40

Question 40

Natural Resources and Petroleum

The deregulation of the petroleum sector in Nigeria will bring about

  1. A.efficiency in pricing and distribution of the products.
  2. B.an end to the importation of fuel.
  3. C.an end to foreign firms' dominance.
  4. D.fixing appropriate production quotas.
Show the answer and explanation

Answer: A (efficiency in pricing and distribution of the products.)

Explanation

Deregulation lets market forces and competition set prices and run distribution, which improves efficiency.