One of the factors that determine the supply of agricultu...
One of the factors that determine the supply of agricultural produce in Nigeria is
Price of substitutes
Technological development
Consumers choice
Consumers income
Correct answer is B
Technological development; technological advances are an important factor in agriculture supply. Individual people can consume only a limited amount of food, but technology has contributed greatly to the ability of producers to grow more. Technology has been used to improve the performance of almost everything in agriculture, from seeds to livestock to equipment.
The adoption of technology in agriculture has expanded agricultural output over a range of prices. In other words, applying new technology to agricultural production has lowered costs, so at each price more production is offered for sale.
The income elasticity of demand of normal goods is ...
The following are advantages of large scale agriculture except ...
The transformation curve slopes indicate that ...
A perfect market has all the following features except that ...
A rise in income will, ceteris paribus, bring about ...
The wholesale provides all the following services to the manufacturer except ...
The type of business finance that entitle the holder to a fixed rate of dividend is ...
Which of the following is a liability of commercial banks? ...
One of the advantages of localization of industry is that firms ...
Import duties will increase total expenditure on imports, if the demand for imports is ...