Subsistence agriculture means?
A. cultivation for external use B. cultivation for local industries C. farming for the urban dwellers D. cultivation for household consumption E. cultivation for foreign currency Correct Answer: Option D – cultivation for household...MUX = PX ( where X and Y = good X and Good Y; MU = Marginal Utility; P= Price) MUY = PY. This represents?
A. marginal utility equation B. equation for consumer dis-equilibrium C. utility maximization equation D. equation for total utility E. equation for price elasticity Correct Answer: Option C – utility maximization...
If as a result of fall in price of the commodity X, the quantity demanded of commodity Y falls, then commodities X and Y are?
A. complementary B. in joint demand C. luxuries D. in composite demand E. substitutes Correct Answer: Option E – substitutes
If price of a commodity rises from N2.00 to N4.00 and its supply increases from 100 to 125, them the co-efficient of elasticity of supply is?
A. 0.025 B. 0.24 C. 0.22 D. 0.25 E. 0.23 Correct Answer: Option D – 0.25
The ranking of a consumer’s need in order of importance is termed?
A. An opportunity cost B. Economies of scale C. A scale of preference D. The making of a choice E. Direct production Correct Answer: Option C – A scale of preferenceProducts
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Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.
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Co-Ownership Structures and Land Acquisition Methods in Nigeria
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Rights in Community Land and Fundamental Land Concepts in Nigeria
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Customary Land Control and the Origins of Nigeria's Land Use Act
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Land Ownership Principles and Transaction Laws in Nigeria
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