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DaniilM [7]
1 year ago
14

why the introduction of maximum prices in the petrol industry will not be an ideals decision for the country's economy​

Business
1 answer:
Bess [88]1 year ago
3 0

The introduction of maximum prices in the petrol industry will not be an ideals decision for the country's economy because

a)​ if the maximum price is less than the equilibrium price, then it will cause a shortage in supply.

b) Petrol is essential for daily lives, without maximum pressure some people may not be able to buy the product.

<h3>What is Economy?</h3>

An economy is the large set of inter-related production, consumption, and exchange activities that aid in determining how scarce resources are allocated. It is defined as the management of financial matters for a community, business or family.

The economy of a country or region is the system by which money, industry, and trade are organized.

Learn more about economy here,

brainly.com/question/18461883

#SPJ1

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