Large number of sellers in the markets
Single seller in the market
Few sellers in the markets
Few buyers in the market
Single buyers in the market
Correct answer is C
No explanation has been provided for this answer.
A Tax which takes a higher percentage from higher incomes is called?
A regressive tax
A progressive tax
A proportional tax
An indirect tax
A direct tax
Correct answer is B
No explanation has been provided for this answer.
Which of the following can be regarded as a liability of a commercial bank?
Advances
Deposits
Treasury bills
Overdrafts
Cash
Correct answer is B
No explanation has been provided for this answer.
The effect of the demand for product A caused by a change in the price of product B is called?
Cross-elasticity of demand
Elasticity of supply
Competitive demand
Composite demand
Joint demand
Correct answer is A
Cross elasticity of demand refers to the way that changes in the price of one good can affect the quantity demanded of another good. This occurs in goods that are substitutes, joint demand, or complementary goods.
For instance, a rise in the price of butter which is a substitute for margarine will lead to a decrease in the demand for butter and a rise in the demand for margarine. Also, the rise in the price of mattresses will lead to a fall in the demand for pillows as its complement.
Which of the following financial assets consist the lowest rate of interest in Nigeria?
Commercial bills
Call money
Treasury bills
Development loan stocks
Deposits with the federal savings bank
Correct answer is D
No explanation has been provided for this answer.