NECO SSCE - Economics - 2002 (Objective)

If the prices of a commodity increases from N8.00 to N10.00 and the demand decreases from 100 to 80 respectively, what is the price elasticity of demand for the commodity?

0.5

0.8 Correct answer

1.5

1.8

Answer Details

Read lesson note on The Theory Of Demand (JAMB)

Read lesson note on The Theory Of Price Determination (JAMB)

The Theory Of Demand

The Theory Of Price Determination

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Question 44 Report

If government in a fiscal year has its revenue receipts less than the expenditure, such country is having

balanced budget

deficit budget Correct answer

favorable budget

surplus budget

unfavorable budget

Answer Details

Read lesson note on Public Finance (WAEC)

Read lesson note on Economics As A Science (JAMB)

Public Finance

Economics As A Science

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