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.