Whatever form an economic system may take, choice is esse...
Whatever form an economic system may take, choice is essential for members of the community because resources are_________
Scarce
Unlimited
Free
Many
Correct answer is A
The basic problem of every society in any type of economic system, be it capitalist, socialist and mixed economy is choice and scarcity because resources are limited.
A commodity is said to have a derived demand when the commodity ...
The main characteristics of an ordinary shares are ...
One of the major factors that brings about changes in supply is ...
\(\begin{array}{c|c} Price (N) & 20 & 16 \\ \hline \text{Quantity demanded} & 100 &am...
The coefficient of the price elasticity of supply is always ...
Statistical information available in most West African countries suggests that ...
Which of the following is obtainable in a perfect market? ...
In certain circumstances, a centrally planned economy adopts the rationing system because of ...