Economics Questions and Answers
Economics questions and answers to help you prepare for JAMB, WAEC, NECO, Post UTME and job aptitude tests or interviews.
Economics questions and answers to help you prepare for JAMB, WAEC, NECO, Post UTME and job aptitude tests or interviews.
The coefficient of price elasticity of supply of land is usually___________
One
Greater than one
Zero
Less than one
Correct answer is C
No explanation has been provided for this answer.
An increase in market supply is caused by the following factors except________
An improvement in innovation and technology
An increase in the price of the commodity
A reduction in the cost of raw materials
A favourable weather condition
Correct answer is C
No explanation has been provided for this answer.
Price of commodity X will increase
Demand for the substitute of commodity X will decrease
Demand for commodity X will decrease
Supply of both commodity X and its substitute will increase
Correct answer is C
No explanation has been provided for this answer.
The demand for wood and labour is an example of_____
Effective demand
Complementary demand
Derived demand
Competitive demand
Correct answer is C
No explanation has been provided for this answer.
An increase in the rice harvest, all things being equal, may cause___________
Price to increase substantially
Price to fall substantially
Demand to fall substantially
Farmer's incomes to be more than doubled
Correct answer is B
No explanation has been provided for this answer.