Time series
Demand series
Demand curve
Demand schedule
Time schedule
Correct answer is D
No explanation has been provided for this answer.
Scarcity in Economics means that resources
Are not enough to share among producers of goods and services
Needed to satisfy human wants are limited
Are never enough to share among consumers of goods and services
Required to meet our essential wants are unlimited
Can be managed if those who use them can behave rationally
Correct answer is B
No explanation has been provided for this answer.
Subsistence farming means producing food
Mainly for the need of our immediate and extended family
Crops for sale mainly
Crops mainly for export
To feed the community around
In order to satisfy the government directives
Correct answer is A
No explanation has been provided for this answer.
The term marginal propensity to consume can best be explained as the
Desire to spend more income on consumption
Change in consumption as a percentage of change in income
Average regularly spend on consumption
Total expenditure on consumption
Inclination to spend only a little on consumption
Correct answer is B
No explanation has been provided for this answer.
Which of these factors does not affect revenue allocation in Nigeria?
Needs of an area
Size of the population of an area
Number of industries and land areas
Revenue derivable from an area
Development needs of the country
Correct answer is C
No explanation has been provided for this answer.