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The coefficient of price elasticity of supply of land is usually
An increase in market supply is caused by the following factors except
What will be the reaction of consumers in a market if there is a fall in the price of the substitute of commodity X?
The demand for wood and labour is an example of
An increase in rice harvest, all things being equal, may cause
One way of obtaining the median of a given data is to
When a commodity market operates without government interference, commodities are distributed through
The distinguishing function of an entrepreneur is
A consumer with $10 needs a dress, a pair of shoes, a handbag and jewellery costing $20, $10, $7 and $3 respectively. The
opportunity cost of buying the pair of shoes is the
The study of economics is important to every society because it
Exploitation of solid minerals in developing countries can stabilize their revenue base mainly because it helps in
One major achievement of the Eco- nomic Commission for Africa (ECA) is the
Harmonised monetary and fiscal policies is a feature of
Short-term deficits in the current account of the balance of payments can be financed by balancing with the
Terms of trade is favourable when the
Devaluation of currency will help to correct balance of payments deficit if a country's
Balance of payments is defined as the
One indicator of the low level of cap ital formation in developing countries is
An increase in a country's production capacity usually leads to economic
A commodity with perfectly inelastic demand has the burden of tax borne by