by Sunday | Oct 21 | Economics JAMB
A. range B. variance C. standard deviation D. mean deviation Correct Answer: Option B – variance Explanation variance is the expectation of the squared deviation of a random variable from its mean. Informally, it measures how far a set of (random) numbers are...
by Sunday | Oct 21 | Economics JAMB
A. income level of households B. available technical skills in the economy C. output decisions of firms D. holding decision of households Correct Answer: Option C – output decisions of firms Explanation Capitalism is an economic system in which private...
by Sunday | Oct 21 | Economics JAMB
A. government B. consumer C. industrialists D. labour unions Correct Answer: Option A – government Explanation A command economy is a system where the government, rather than the free market, determines what goods should be produced, how much should be produced,...
by Sunday | Oct 21 | Economics JAMB
Given that the prices and quantities supplied in litres of petrol is expressed as Qs = 25 + 0 25P.Qs is the quantity supplied and P is price. Determine the quantity supplied when price per litre is N30 A. 50litres B. 32.5litres C. 30litres D. 35litres Correct Answer:...
by Sunday | Oct 21 | Economics JAMB
A. 600 B. 800 C. 900 D. 1000 Correct Answer: Option C – 900 Explanation The profit-maximizing output level is 900 because at this, output level MC = MR. The marginal cost curve is tangential to the marginal revenue line which shows the price maximizing level...
by Sunday | Oct 21 | Economics JAMB
A. 4 B. 1 C. 2 D. 5 Correct Answer: Option C – 2 Explanation Percentage change in quantity supplied = (Change in quality supplied ÷ Old quantity supplied ) × 100 (30 – 20) ÷ 20 × 100 (10 ÷ 20) × 100 = 50% Percentage change in price (Change in price ÷ Old price...
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.