What is the median? State its merits and demerits.
 

With the aid of diagrams, explain what is meant by a change in:
(a) the quantity demanded;
(b) demand. 
 

(a) Explain the term mobility of labour.
(b) Why may labour as a mobile factor of production be unwilling to move? 

Explain the factors that affect the supply of labour in Nigeria. 

(a) Define a market.
(b) Explain four characteristics of a perfect market.