Given that x + y = 7 and 3x-y = 5, evaluate \(\frac{y}{2}-3\).
-1
1
3
4
Correct answer is A
\(x + y = 7 ------ I\\
3x – y = 5 ------ II\)
Add I and II;
\(4x = 12 => x = \frac{12}{4} = 3\\
Y = 7 – 3 = 4, evaluate \hspace{1mm} \frac{y}{2} – 3\\
\frac{4}{2} – 3 => 2-3 = -1\)
Consumer goods
Products
Wealth
Commercial goods
Durable goods
Correct answer is C
No explanation has been provided for this answer.
A Nigerian household demand curve for semovita is downward sloping because
The demand for semovita is high
The local markets are flooded with semovita
Semovita is produced in Nigeria
Every household can afford to buy semovita
The higher the price of semovita, the lower the quantity demanded
Correct answer is E
No explanation has been provided for this answer.
Mono-products economics are those that
Have a rich culture heritage
Produce only raw materials
Live on the exportation of their raw products
Produce one main commodity
Specialize in agricultural industries
Correct answer is D
No explanation has been provided for this answer.
Which of the following pairs can be referred to as middlemen?
Wholesalers and agents
Retailers and consumers
Consumers and agents
Wholesalers and retailers
Wholesalers and consumers
Correct answer is D
A middleman is a person who buys goods from producers and sells them to retailers or consumers or one who arranges business or other deals between other people.
The channel of distribution recognizes the wholesaler and the retailer as the middlemen.