Economics Past Questions and Answers

By utility we mean ____________

If the quantity demanded of a commodity increase from 20 to 30 when there is an increase in price from N4 to N5, the elasticity of demand is ____________

Which of these is not usually the function of a wholesaler?

If Mr. A earns N2.000 a year while Mr. B earns N8000 but Mr. A pays N200 in tax per annum while Mr. B pays N400, such tax is ____________

The price mechanism ____________