Competitive demand
Complementary demand
Composite demand
Independent demand
Correct answer is B
Complementary demand occurs when the demand for a particular product leads to the demand for a related but different product. It is also known as joint demand. For instance, the demand for computer systems would lead to a corresponding demand for software because computers cannot function without software.
When there is a change in the prices of computers, it will also affect the prices of software.
II & III only
I & II only
I, II & III only
II only
III only
Correct answer is B
No explanation has been provided for this answer.
To an individual, the term cost will include expenditure on the following EXCEPT
Clothing
Entertainment
Housing
Payment of school fees
Settling national debts
Correct answer is E
No explanation has been provided for this answer.
The types of unemployment that evolved the use of machines to replaces human labour is known as
Cyclical unemployment
Frictional unemployment
Seasonal unemployment
Structural unemployment
Technological unemployment
Correct answer is B
No explanation has been provided for this answer.
The introduction of money into the economy has helped to resolve the following problems EXCEPT
Accessibility of needs
Availability of goods
Coincidence of wants
Making deferred payments
Measure and store of value
Correct answer is A
No explanation has been provided for this answer.