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1066
Price elasticity of supply is a ratio of the change in
  • A. original quantity to a change in new quantity
  • B. quantity supplied to the change in price
  • C. price to the change in quantity supplied
  • D. quantity supplied to the change in demand
View Answer & Discuss JAMB 2003
1067

The long-run average cost curve is called a planning curve because it shows what happens to costs when

  • A. a bigger size of plant is built
  • B. differents sizes of plants are built
  • C. variable inputs are increased
  • D. fixed factors are increased
View Answer & Discuss (3) JAMB 2003
1068
Imperfect market is characterized by
  • A. perfect mobility of factors of production
  • B. many buyers and few sellers
  • C. a large number of buyers and sellers
  • D. non-preferential treatment
View Answer & Discuss (4) JAMB 2003
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1069

The term 'Near money' is best described as

  • A. a financial instrument that is readily convertible to cash
  • B. government financial instrument that is convertible to cash
  • C. time deposits with low interest rates
  • D. a financial asset that is convertible to cash
View Answer & Discuss (3) JAMB 2003
1070
The distinguishing characteristic between the money market and the capital market lies in whether the
  • A. securities are primary or secondary
  • B. debt instruments provided are long-term or short-term
  • C. funds mobilized are private or public
  • D. securities are in debentures or ordinary shares
View Answer & Discuss JAMB 2003
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