by Sunday | Oct 30 | Economics JAMB
When commodity X sold for N25 per unit, 50 units of commodity Y were purchased. With an increase in the price of commodity X to N50 per unit, the demand for commodity Y fell to 20 units. A. Substitutes B. durable and non-durable C. intermediate and final D....
by Sunday | Oct 30 | Economics JAMB
When commodity X sold for N25 per unit, 50 units of commodity Y were purchased. With an increase in the price of commodity X to N50 per unit, the demand for commodity Y fell to 20 units. A. 1.7 B. 0.6 C. -0.6 D. -1.7 Correct Answer: Option A =...
by Sunday | Oct 30 | Economics JAMB
A. shadow prices B. profit level C. relative prices D. a central planner Correct Answer: Option B – profit level
by Sunday | Oct 30 | Economics JAMB
(i) What and how much will be produced (ii) How will it be produced (iii) For whom will it be produced (IV) How much will be exported and consumed? A. i, ii and iii B. i, ii and iv C. i, iii and iv D. ii, iii and iv Correct Answer: Option A – i, ii and...
by Sunday | Oct 30 | Economics JAMB
A. reduction in spending in the face of competing alternative B. allocation of resources to alternative uses C. economic behaviour of small units like the household and the firm D. the study of economic aggregates like inflation and national income Correct Answer:...
by Sunday | Oct 30 | Economics JAMB
A. N100 B. N110 C. N60 D. N80 Correct Answer: Option D = N80
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