by Sunday | Oct 29 | Economics JAMB
A. indeterminate B. direct C. nil D. inverse Correct Answer: Option C – nil
by Sunday | Oct 29 | Economics JAMB
A. the quantity supplied is responsive to price B. the same fixed quantity will be supplied no matter the price C. an increase in price will result in an increase in the quantity supplied D. there is a fixed price for the commodity below which no supply will be made...
by Sunday | Oct 29 | Economics JAMB
A. increase consumption of imported goods B. improve trade among nations C. transform from a developing to a developed economy D. allocate scarce resources Correct Answer: Option D – allocate scarce resources
by Sunday | Oct 29 | Economics JAMB
A. deductive reasoning B. inductive reasoning C. theoretical reasoning D. normative reasoning Correct Answer: Option B – inductive reasoning Explanation Inductive reasoning is a process by which a person makes a generalization based on specific, individual...
by Sunday | Oct 29 | Economics JAMB
A. movement along the supply curve B. shift of the supply curve to the left or to the right C. shift of the supply curve to the left D. shift of the supply curve to the left Correct Answer: Option B – shift of the supply curve to the left or to the...
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