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2421

An arrangement of data in rows and columns is referred to as

  • A. graph
  • B. bar chart
  • C. pie chart
  • D. table
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2422

A normal demand curve slopes

  • A. downward from left to right
  • B. upwards from right to left
  • C. downwards from right to left
  • D. upwards from left to right
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2423

The co-efficient of income elasticity of demand for inferior goods is

  • A. positive
  • B. equal to one
  • C. less than one
  • D. negative
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2424

If a 20% rise in price of Whiskey leads to a 30% increase in quantity demanded of Schnapps, the cross elasticity of demand is

  • A. 3.0
  • B. 2.5
  • C. 2.3
  • D. 1.5
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2425

Palm oil and palm kernel have

  • A. competitive supply
  • B. excess supply
  • C. joint supply
  • D. composite supply
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