by Sunday | Nov 6 | Economics WAEC
A. an abnormal supply situation B. the law of supply C. that labour supply and wage are directly related D. that the elasticity of supply is uniform Correct Answer: Option C C. that labour supply and wage are directly related Explanation The reason is that there are...
by Sunday | Nov 6 | Economics WAEC
A. its higher in the urban than rural areas B. varies with time C. rises with demand D. is fixed Correct Answer: Option D D. is fixed Explanation Fixed supply: The total land area of earth (in the sense of the surface area available to men) is fixed. First, supply of...
by Sunday | Nov 6 | Economics WAEC
A. joint supply B. competitive demand C. competitive supply D. complementary demand Correct Answer: Option A A. joint supply Explanation Joint supply is an economic term referring to a product or process that can yield two or more outputs. Common examples occur within...
by Sunday | Nov 6 | Economics WAEC
A. increase in prices of raw materials B. increase in the size of the population C. expectation of future price increase D. change in taste of the consumer Correct Answer: Option C C. expectation of future price increase Explanation A normal demand curve (which when...
by Sunday | Nov 6 | Economics WAEC
A. inferior goods B. complementary goods C. substitutes D. normal goods Correct Answer: Option D D. normal goods Explanation Normal goods are a type of goods whose demand shows a direct relationship with a consumer’s income. A normal good is one whose demand...
by Sunday | Nov 6 | Economics WAEC
A. substitutes B. complements C. inferior goods D. bought goods Correct Answer: Option A A. substitutes Explanation Substitute goods or substitutes are at least two products that could be used for the same purpose by the same consumers. If the price of one of the...
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.