Price fluctuation is a feature of
ECONOMICS
WAEC 2013
Price fluctuation is a feature of
- A. common market
- B. imperfect market
- C. supermarkets
- D. market failure
Correct Answer: B. imperfect market
Explanation
Price fluctuation refers to the frequents rise and fall of commodity prices in the market as a result of changes in the market situations. price fluctuation can be seasonal whereby prices of commodities changes during certain season of the year due to the increase in supply and demand. It is a feature of imperfect market where buyers and sellers can influence prices and production
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