Question

Read the following passage and answer questions (7-10)

Imposition of the rent control on market for apartments will increase the demand for

the apartments. As a result, there will be an excess demand for these rent controlled

apartments. Each applicant will have to stand in long queues to get the application

forms. This will give birth to black marketing of these apartments, that is, some

consumers of these apartments may be willing to pay a higher price for it.

7) Imposition of the rent control will______ the demand for apartments.

a) Decrease

b) Increase

c) Both (a) and (b)

d) None of these

8) This gives way to

a) Green marketing

b) White marketing

c) Black marketing

d) None of these

9) Due to excess demand for apartments, price will

a) Decrease

b) Increase

c) Both (a) and (b)

d) All of these

10) How is black marketing going to affect the lower income group?​

Answer 1

7) Imposition of the rent control will increase the demand for apartments.

8) This gives way to Black marketing

9) Due to excess demand for apartments, price will decrease

10) This will give birth to black marketing of these apartments, that is, some consumers of these apartments may be willing to pay a higher price for it.

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