2011 - JAMB Economics Past Questions and Answers - page 3

An effective way of controlling inflation in a mixed economy is to

One`of the limitations PPC assumption is that there is

A major disadvantage of the arithmetic means is that it is

Demand patterns are determined by the market on the basis of

A consumer surplus measures the

If the demand for one commodity excludes another, it is said to be

If demand increases without a change in supply, equilibrium price and quantity will

In the process of production, total output is at maximum when

When a consumer is at equilibrium, the MRS_xy is equal to the

Minimum price legislation by government will