In the marketing of animal products, middlemen create artificial scarcity in order to_______

Assessment: WAEC SSCE - Animal Husbandry - 2019 (Objective) Subject: Animal Husbandry

Question 1 Report

In the marketing of animal products, middlemen create artificial scarcity in order to_______

Answer Details
The correct answer is "make abnormal profit." Middlemen are individuals or companies who act as intermediaries between producers and consumers of goods or services. In the marketing of animal products, middlemen may create artificial scarcity by limiting the supply of animal products available on the market. By doing so, they can create a situation where demand for the products outstrips supply, which in turn allows them to charge higher prices and make abnormal profits. Artificial scarcity can be created in a number of ways, such as by hoarding products, restricting access to markets, or manipulating prices. In some cases, middlemen may even resort to unethical or illegal practices in order to create scarcity and drive up prices. Ultimately, the practice of creating artificial scarcity can be harmful to both producers and consumers of animal products. Producers may be forced to sell their products at lower prices or may be unable to sell them at all, while consumers may be forced to pay higher prices for essential products.

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