Economics Past Questions and Answers

(a) Explain each of the following measures of central tendency<br/>(i) mean;<br/>(ii) median;<br/>(iii) mode<br/>(b) Calculate the mean, median and mode of the following set of numbers: 21, 22, 23,24, 25, 26, 23, 28, 29, 30, 24, 31, 34, 23

What are the factors that determine the price elasticity of demand for a commodity?

What are the likely reasons for government participation in the location of industries in Nigeria?

What functions do wholesalers perform for manufacturers?

Explain each of the following types of taxes:<br/>(a) Proportional tax;<br/>(b) progressive tax;<br/>(c) regressive tax.