Question 1 Report
A minimum price legislation is also called
Answer Details
Minimum price is often called price floor and it is fixed by the government to protect the producer or seller. Minimum price is set above the equilibrium price and when this occur, there will be excess supply over demand i.e surplus.
Cooperative societies are formed mainly to
Which of the following factors is not a cause of change in demand? Changes in
Which of the following factors is not a cause of diminishing returns?
Scale of preference shows
The use of the bank rate, cash ratio and open market operations constitute
If the quantity demanded of a commodity increases from 20 units to 30 units when there is an increase in price from $4.00 to $5.00, the elasticity of demand is
Gross National Product (GNP) less the provision for the wear and tear of assets is the
The sufficient condition for a firm to be in equilibrium is that the
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