by Sunday | Nov 6 | Economics WAEC
A. textbook B. labour C. staple food D. mobile phone Correct Answer: Option B B. labour Explanation Derived demand is an economic term describing the demand for a good/service resulting from the demand for an intermediate or related good/service. It is a demand for...
by Sunday | Nov 6 | Economics WAEC
A. fairly elastic demand B. perfectly elastic demand C. perfectly inelastic D. fairly inelastic demand Correct Answer: Option C C. perfectly inelastic Explanation When the demand curve is parallel to the vertical axis, it means, that the same amount of goods are...
by Sunday | Nov 6 | Economics WAEC
A. desire for the commodity B. significance of the commodity C. ability to pay for the commodity D. economic value of the commodity Correct Answer: Option A A. desire for the commodity Explanation So, the key difference between wants and demand is desire....
by Sunday | Nov 6 | Economics WAEC
A. complements B. substitutes C. luxurious D. inferior Correct Answer: Option B B. substitutes Explanation A positive cross-price elasticity value indicates that the two goods are substitutes. Two goods that complement each other have a negative cross elasticity of...
by Sunday | Nov 6 | Economics WAEC
A. directives of the government B. the pattern of consumers spending C. producers of consumer goods D. people producing what they want Correct Answer: Option B B. the pattern of consumers spending Explanation Consumer preferences and resource scarcity determine which...
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.