2005 - WAEC Economics Past Questions and Answers - page 2

A group of firm producing similar commodities for the same market constitute

a factor that has slowed down the rate of industrial development in West Africa is

To achieve an equilibrium position, the consumer must buy so much of each commodity whose price is equal to its

Price control refers to

The desire for goods without the ability to pay is called

amount of goods offered to the market at respective prices and presented in a table is called

At the equilibrium price, quantity demanded is

If the government fixed a price of a commodity above equilibrium price, the quantity supplied will be

one of the factors determining price elasticity of demand for a commodity is the

If elasticity of demand for a commodity is less than one, demand is