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The demand curve for a commodity is downward sloping because the consumer will pay
A demand schedule shows the quantities of goods that are
Where a commodity takes an insignificant proportion of the consumer's income, demand for it will be
Which of the following best describes the mode? the
A condition for consumer utility maximization is
If a 6% decrease in price results in more than 6% decrease in quantity supplied, supply can be regarded as
A shift in the demand curve indicates
Visible balance is also known as
Which of the following problems arises where there are more than one technically possible methods of production
From this diagram, the minimum wage OW will lead to
To move from point M to K, the consumer has to increase the
The consumer is at equilibrium at point
From the above, calculate the price elasticity of demand
If the GDP is N60 billion, what is the difference between the contributions of oil and manufacturing sectors?
The percentage contribution of Agricultural sector is
The reward on machinery and equipment in the process of production is known as
One of the functions of ECOWAS is to
A deficit balance of payments is measured by subtracting the debits from the credits in the
In a village of 50 persons, 10 immigrated, 25 died and 5 emigrated in year. Determine the total population
The Malthusian theory was concerned about the relationship between