Question 7
when the price of a given product is reduced from N100 to N90, the quantity demanded increases from 50 to 60 units. From this we can conclude that the product's
Objective
Question details
- Exam body
- WAEC
- Subject
- Economics
- Year
- 1997
- Question no.
- #7
- Type
- Objective
More from this paper
- Q3which of the following has a derived demand?
- Q4In Economics production is complete when
- Q5Goods are said to be in competitive demand when they
- Q9one of the disadvantages of the division of labour is that it
- Q10The value of money is affected by the
- Q11which of the following is not a problem in the barter economy?