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WAEC Commerce 2024 Question 46

Question 46

Government and Business

A disadvantage of commercialization to consumers is that

  1. A.it promotes inefficiency.
  2. B.it reduces loyalty of workers.
  3. C.customers do not have value for their money.
  4. D.prices of products increase.
Show the answer and explanation

Answer: D (prices of products increase.)

Explanation

Once a state firm must cover its costs and make a profit, subsidies end and it charges higher prices to consumers.