A. normal demand B. excess supply C. equilibrium quantity D. abnormal demand Correct Answer: Option B B. excess supply
A. leave the demand for Q constant but reduce the quantity demanded of P B. reduce the quantity of P…
A. Taste and fashion B. vagaries of weather C. price of other commodities D. price of commodity Correct Answer: Option…
A. satisfaction from an extra unit decreases B. satisfaction from an extra unit rises C. satisfaction from extra units remains…
A. charts and graphs B. rows and columns C. graph and rows D. columns and charts Correct Answer: Option B…
A. utility is created B. a good is manufactured C. a commodity is consumed D. individual wants are satisfied Correct…
A. principle of production B. factors of production C. items of production D. labour and material resources Correct Answer: Option…
A. allocate scarce resources to satisfy human wants B. satisfy all human wants C. redistribute income between the rich and…
A. Cotonou B. Harare C. Abidjan D. Lagos Correct Answer: Option C C. Abidjan
A. Nigeria, Iraq, Venezuela, Kuwait and Ghana B. Saudi Arabia, Kuwait, Sierra Leon, Iran and Iraq C. Algeria, Kuwait, Venezuela,…