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Tuesday, 23 June 2026
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Economics Past Questions and Answers

Economics Questions

Question 4541:
If the price of commodity X rises and consumers shift to commodity Y, then commodities X and Y are
  • A Substitutes
  • B Complements
  • C Inferior goods
  • D Bought together
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Question 4542:
An exceptional demand curve can result from
  • A Increase in price of raw materials
  • B Increase in the size of the population
  • C Expectation of future price increase
  • D Change in taste of consumer
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Question 4543:
Palm oil and palm kernel are in
  • A Joint supply
  • B Competitive demand
  • C Competitive supply
  • D Complementary demand
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Question 4544:
A supply curve parallel to the X-axis indicates
  • A Fairly elastic supply
  • B Infinitely elastic supply
  • C Fairly inelastic supply
  • D Perfectly inelastic supply
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Question 4545:
If the marginal utility of commodity is equal to its price, then
  • A The consumer is in equilibrium
  • B More of the commodity can be consumed
  • C Total utility is also equal to its price
  • D The market is not in equilibrium
View Answer & Explanation