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3356
\(\begin{array}{c|c}
Price (N) & 20 & 16 \\
\hline
\text{Quantity demanded} & 100 & 58
\end{array}\)

From the table above, the elasticity of supply is_____?
  • A. Inelastic supply
  • B. Perfectly elastic
  • C. Elastic supply
  • D. Unitary elastic
View Answer & Discuss JAMB 2016
3357

Localization of industry is encouraged because of

  • A. Low interest charges on loans
  • B. High standard of living
  • C. Low foreign exchange rate
  • D. Improvements in infrastructure
View Answer & Discuss JAMB 2016
3358

A company's expenditure on raw materials is termed as_______?

  • A. Prime cost
  • B. Explicit cost
  • C. Average cost
  • D. Implicit cost
View Answer & Discuss (3) JAMB 2016
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3359
Human wants are insatiable because wants are
  • A. limited while means are scarce
  • B. unlimited and means are also unlimited
  • C. limited and means are also limited
  • D. unlimited while means are scarce
View Answer & Discuss (1) WAEC 2016
3360
Scale of preference is important for the following reasons except in
  • A. satisfying wants
  • B. making rational
  • C. making optinum allocation of resources
  • D. using scarce resources efficiently
View Answer & Discuss (8) WAEC 2016
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