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Economics (AS & A Level) · Oct / Nov 2021 · Paper 11 · Question 17

9708Methods and effects of government intervention in markets

What would be the main effect of imposing an effective maximum price on foodstuffs?

  1. AInflation would rise.
  2. BThe price of foodstuffs would rise.
  3. CThere would be a decrease in the import of foodstuffs.
  4. DThere would be a shortage of foodstuffs.

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Correct answer: D. There would be a shortage of foodstuffs.

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