A. ineffective use of crude implements B. inability of farmers to adopt modern technology C. introduction of the Green Revolution…
A. Average fixed cost B. Marginal cost C. Average variable cost D. Average cost Correct Answer: Option D - Average…
A. maker B. taker C. giver D. bidder Correct Answer: Option B - taker
A. rises and falls faster than the marginal cost B. is U-shaped and intersects the price axis C. is always…
A. large number of buyers and sellers in the market B. awareness of market conditions by buyers C. availability of…
A. allocate scarce resources among competing uses B. ensure equitable distribution of income and wealth C. determine the demand for…
A. diminishing returns B. the law of variable proportions C. diseconomies of scale D. increasing returns to scale Correct Answer:…
A. more naira is spent on commodities with the highest utility B. less naira is spent on commodities with the…
A. what the consumer wants B. government decisions C. price mechanism D. the pattern of consumer spending Correct Answer: Option…
A. private ownership of factors of production B. ownership of factors of production by rich members of the society C.…