by Sunday | Nov 8 | Economics WAEC
A. maximum pricing B. rationing C. minimum pricing D. auctioning Correct Answer: Option D D. auctioning Explanation A maximum price occurs when a government sets a legal limit on the price of a good or service – with the aim of reducing prices below the market...
by Sunday | Nov 8 | Economics WAEC
A. increase in demand B. change in taste C. intersection of demand and supply D. increase in supply Correct Answer: Option C C. intersection of demand and supply Explanation 6 Factors Affecting Price Determination of… Product Cost The Utility and Demand The...
by Sunday | Nov 8 | Economics WAEC
A. demand is relatively prices elastic B. demand is relatively prices inelastic C. price elasticity of demand is unitary D. price elasticity of demand is constant Correct Answer: Option A A. demand is relatively prices elastic Explanation Price elasticity is a measure...
by Sunday | Nov 8 | Economics WAEC
A. producers pay high taxes B. two commodities can be supplied at the same time C. at a lower price less is supplied D. at a lower price more is supplied and demanded Correct Answer: Option C C. at a lower price less is supplied Explanation In most cases, the supply...
by Sunday | Nov 8 | Economics WAEC
A. the demand curve to the left B. the supply curve to the right C. both the supply-demand curves to the left D. supply curve to the left and demand curve to the right Correct Answer: Option B B. the supply curve to the right Explanation Subsidy impact: Marginal...
by Sunday | Nov 8 | Economics WAEC
A. price of the commodity B. goods of ostentation C. Giffen goods D. rare commodity Correct Answer: Option C C. Giffen goods Explanation An uncommonly high product demand that is outside the normal parameters established by the management policy is called abnormal...
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.