One of the greatest demerits of the middlemen in Nigeria is that they

Assessment: WAEC SSCE - Economics - 1990 (Objective) Subject: Economics

Question 1 Report

One of the greatest demerits of the middlemen in Nigeria is that they
Answer Details
One of the greatest demerits of middlemen in Nigeria is that they increase the price of goods and services at will. This means that when middlemen are involved in the process of buying and selling goods, they tend to add an extra cost to the price of the goods, which can make them more expensive for the final consumer. This is because the middlemen want to make a profit, and they do so by increasing the price of the goods. This practice can make it difficult for people to afford basic goods and services, which can negatively impact their standard of living.
Read lesson note on Business Organizations (JAMB)
View Answer

Related Questions

1

Demand in Economics is synonymous with
2

which of the following are resources for holding money instead of investing it? I Transaction motive II. Precautionary motive III. Speculative motive IV. Liq...
3

A rational consumer tends to do all the following except
4

A firm that charges different price of goods or services that have same technical qualities is called
5

it is general belief that inflation in West Africa is caused by all the factors listed below except
6

all the following are specific examples of indirect tax except
7

All the following factors will cause a change in demand except
8

Economics can be best defined as the study of

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning