Given the figures below :
Price of commodity A in January = N5.00
Price of commodity A in February = N7.00
Quantity of A bought in January = 20 kg
Quantity of A bought in February = 16 kg (a) Calculate:
(i) Percentage change in quantity bought (% )
(ii) Percentage change in price of A (% )
(iii) Coefficient of price elasticity of demand (e)

(b) From your answer:
(i) is the demand elastic or inelastic?
(ii) How do you know this?

Write short notes on
(a) Liquidity Ratio.
(b) Fixed Deposits.
(c) Money Market.

The bulk of West African foreign trade is directed away from Africa to Europe and America. What are the reasons for this?

Discuss the important role played by agriculture in the economy of your country. 

(a) What are the objectives of the Organisation of Petroleum Exporting Countries (OPEC) ?
(b) What are the problems of the OPEC?
(c) What remedies have been adopted to curtail them?