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The quantity of rice that an individual can buy during a given period is simply...

Agricultural Science
WAEC 1995

The quantity of rice that an individual can buy during a given period is simply the individual's purchasing power. Purchasing power is a term for how many material goods your money can buy at a given time

  • A. supply of rice
  • B. demand for rice
  • C. elastic limit for rice
  • D. performance for rice
  • E. purchasing power
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Correct Answer: Option A
Explanation

purchasing. This reflects the individual's ability to buy goods based on their income and the price of the rice.

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