by Sunday | Oct 22 | Economics JAMB
A. demand and supply to remain constant B. an increase in quantity supplied C. an increase in supply D. a decrease in quantity supplied Correct Answer: Option B – an increase in quantity supplied Explanation Fixing prices above equilibrium will cause an increase...
by Sunday | Oct 22 | Economics JAMB
A. consumers B. society C. government D. producers Correct Answer: Option A – consumers Explanation The invisible hand is a natural force that self regulates the market economy. An example of an invisible hand is an individual making a decision to buy noodles...
by Sunday | Oct 22 | Economics JAMB
A. profit B. productivity C. national income D. price index Correct Answer: Option B – productivity Explanation The price/cost elasticity of supply measures the degree to which a change in price would affect the quantity of goods the producer is willing to...
by Sunday | Oct 22 | Economics JAMB
A. unitary B. infinity C. fairly elastic D. perfectly inelastic Correct Answer: Option D – perfectly inelastic Explanation perfectly inelastic is a situation in which the price of a product will have no effect on the supply. This means that, a change in price...
by Sunday | Oct 22 | Economics JAMB
A. seasonal conditions B. the efficacy of fertilizer used C. the demand for beverages D. the availability of close substitutes Correct Answer: Option C – the demand for beverages Explanation The supply of cocoa is influenced by the demand for beverages. Cocoa is...
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.