by Sunday | Oct 23 | Economics JAMB
A. in the long-run period B. to large-scale enterprises C. to small-scale enterprises D. in the short-run period Correct Answer: Option A – in the long-run period Explanation The law of variable proportions states that as the quantity of one factor is increased,...
by Sunday | Oct 23 | Economics JAMB
A. there are difficulties in coordinating production B. there is shortage in labour supply C. the size of market is small D. there is an increase in the price of raw materials Correct Answer: Option A – there are difficulties in coordinating production...
by Sunday | Oct 23 | Economics JAMB
A. be supplied at a higher price B. double at a higher price C. increase by more than the percentage increase in price D. equal percentage change in price Correct Answer: Option C – increase by more than the percentage increase in...
by Sunday | Oct 23 | Economics JAMB
A. marginal utility B. ordinal utility C. cardinal utility D. total utility Correct Answer: Option B – ordinal utility Explanation In ordinal utility, the satisfaction a consumer obtains after consuming various commodity cannot be measured in numbers, but can be...
by Sunday | Oct 23 | Economics JAMB
A. reduce supply B. increase supply C. reduce demand and create surplus D. increase demand and create scarcity Correct Answer: Option D – increase demand and create scarcity Explanation To prevent prices from falling further, the government may adopt “minimum...
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.