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WAEC Economics 2000 Question 36

Question 36

Price Determination

Which of the following will occur when the market is unstable?

  1. A.Prices will fluctuate
  2. B.Demand will remain static
  3. C.Unemployment will surely fall
  4. D.Prices will remain static.
Show the answer and explanation

Answer: A (Prices will fluctuate)

Explanation

An unstable market is one where demand and supply keep changing, so prices go up and down.