by Sunday | Oct 30 | Economics JAMB
A. market is not working effectively B. equilibrium price is attained C. price of a commodity tends to attract consumers D. consumers sovereignty is lacking Correct Answer: Option B – equilibrium price is attained
by Sunday | Oct 30 | Economics JAMB
A. measurable B. psychological C. ranked D. intangible Correct Answer: Option A – measurable
by Sunday | Oct 30 | Economics JAMB
When commodity X sold for N25 per unit, 50 units of commodity Y were purchased. With an increase in the price of commodity X to N50 per unit, the demand for commodity Y fell to 20 units. A. Substitutes B. durable and non-durable C. intermediate and final D....
by Sunday | Oct 30 | Economics JAMB
When commodity X sold for N25 per unit, 50 units of commodity Y were purchased. With an increase in the price of commodity X to N50 per unit, the demand for commodity Y fell to 20 units. A. 1.7 B. 0.6 C. -0.6 D. -1.7 Correct Answer: Option A =...
by Sunday | Oct 30 | Economics JAMB
A. shadow prices B. profit level C. relative prices D. a central planner Correct Answer: Option B – profit level
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