Which of the following will cause an increase in cost of pro…

JAMB Economics 2023 142 views
Source: JAMB · 2023

Which of the following will cause an increase in cost of production?

  1. Hyper-inflation
  2. Demand pull inflation
  3. Cost push inflation ✓
  4. Structural inflation
Explanation

This answer correctly explains the economic concept. Economics studies how people make choices about limited resources.

The other options describe different economic ideas or situations. They don’t fit what this question asks.

Remember this economic principle when thinking about money, trade, and how markets work.

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