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Economics Past Questions and Answers

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Economics Questions

Question 2751:

A limited liability company is owned by the

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A President of the country
B Workers
C General manager
D Shareholders

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Question 2752:

The National Electrical Power Authority (NEPA) in Nigeria is a

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A Public Limited Company
B Private limited company
C Private authority
D Public corporation

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Question 2753:

When elasticity is zero the demand curve is

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A Perfectly elastic
B Perfectly inelastic
C Concave
D Downward sloping

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Question 2754:

An increase in the demand for butter reduces the demand for margarine, this type of demand is called

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A Competitive demand
B Elastic demand
C Derived demand
D Composite demand

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Question 2755:

A commodity is said to have derived demand when it

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A Has a joint demand with another commodity
B Is demanded by the rich only
C Is demanded for immediate consumption
D Is demanded because of what it can help to produce

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