Economics Past Questions and Answers

The demand for a commodity not directly for immediate consumption but for the production of another commodity is

Which of the following is a luxury item?

If the quantity demanded of a particular commodity is represented by the function Qd = 30 - 2p, what is the quantity demanded at a price of twelve Naira?

The responsiveness of demand to a change in income is the measurement of

The upward slope of the supply curve indicates that