by Sunday | Oct 23 | Economics JAMB
A. reduce supply B. increase supply C. reduce demand and create surplus D. increase demand and create scarcity Correct Answer: Option D – increase demand and create scarcity Explanation To prevent prices from falling further, the government may adopt “minimum...
by Sunday | Oct 23 | Economics JAMB
When a consumer is at equilibrium, the MRSxy is equal to the A. sum of the prices B. product of the two prices C. ratio of the two prices D. difference of the two prices Correct Answer: Option A – sum of the prices
by Sunday | Oct 23 | Economics JAMB
A. MP=0 B. MP > 0 C. AP = 0 D. AP > 0 Correct Answer: Option A – MP = 0 Explanation When the MP becomes zero, Total Product reaches its maximum.
by Sunday | Oct 23 | Economics JAMB
A. remain unchanged B. shift inward C. fall D. rise Correct Answer: Option D – rise Explanation If demand increases without a corresponding increase in supply, prices will go up because consumers would be willing to buy the available commodity at any price due...
by Sunday | Oct 23 | Economics JAMB
A. complementary demand B. competitive demand C. composite demand D. derived demand Correct Answer: Option B – competitive demand Explanation Competitive demand is a market situation where a prospective buyer could choose between two competing products and still...
by Sunday | Oct 23 | Economics JAMB
A. full employment of resources B. unemployment C. inflation D. full employment of factors of production Correct Answer: Option D – full employment of factors of production Explanation The point OW shows that labour is highly utilized and the wage rate is...
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.