If an increase in the price of good X leads to an increase in the supply of good Y, X and Y are said to be

The labour force in Nigeria falls between the ages of

The effect of an increase in demand for a commodity accompanied by a decrease in supply will be to

Use the information below to answer questions.
When commodity X sold for N25 per unit, 50 units of commodity Y were purchased. With an increase in the price of commodity X to N50 per unit, the demand for commodity Y fell to 20 units.

The two commodities can be classified as?

In a centrally planned economy, the economic problem of deciding what to produce is dependent on

The primary function of non-bank financial institutions is to

By advertising, a monopolistic competitive firm tries to shift its

As a firm increases its output the average fixed cost

One way of correcting the balance payments problem of a country is to

The types, sources and uses of government income are mainly concerned with

If a total cost curve is plotted, marginal cost can be illustrated by the

Statutory organizations usually established by Acts of parliament are called

If the demand curve facing a firm is sharply downward sloping, the firm is likely to be

If \(\bar{x}\) = 6 and N = 6, determine the value of ∑fx

Economics can be defined as

The demand for labour is an example of

In any set of data, the median represents the

In a closed economy, the marginal propensity to consume is 0.6 and the average propensity to consume is 0.8. The value of the multiplier is

Use the information below to answer the question that follows.

When commodity X sold for N25 per unit, 50 units of commodity Y were purchased. With an increase in the price of commodity X to N50 per unit, the demand for commodity Y fell to 20 units.

Determined the cross elasticity of demand?

A major characteristic of a mixed economy is that

In the short run, a firm's marginal cost curve above the point of shut-down is its

External diseconomies of scale result from excessive growth of

A country is said to be overpopulated when

The difference between birth and death rates of a given population is referred to as the

Inflation that is usually associated with periods of trade boom is

A necessary condition for specialization in an economy is the existence of

A student who has N30.00 with which to buy a ruler costing N18.00 and an exercise book costing N25.00. If he buys the exercise book. His opportunity cost is

The short-run equilibrium output for a monopolist is determined by the

The best method of production in an under-populated country is

An adverse environmental impact of the petroleum industry on the economy is

An important factor hindering the rapid development of the industrial sector in Nigeria

The major role of multi-national companies in the petroleum industry in Nigeria is

The major objectives of a revenue allocation formula in a country is to

Securities are described as listed when they are:

In economics analysis, a statement is said to be normative if, it

In a textile factory, the cost of cotton used is a typical example of

Some of the key indicators of underdevelopment in a country are

Economics is the study of human behaviour as it relates to the

The distinguishing characteristic between the money market and the capital market lies in whether the

An advantage of the sole proprietorship over the partnership form of business organization is that