March 19, 2024

ECONOMICS

THE PRICE OF A COMMODITY IS DETERMINED BY THE

A. supplier B. consumer C. quantity of goods demanded D. quantity of goods supplied E. interaction of demand and supply ✓ The price of a commodity is determined by the interaction of demand and supply ...

ECONOMICS IS A SCIENCE WHICH STUDIES HUMAN BEHAVIOURS AS A RELATIONSHIP BETWEEN ENDS AND SCARCE MEANS WHICH HAVE ALTERNATIVE USES. ‘ENDS’ HER REFERS TO

A. resource B. wants ✓ C. choice D. output E. factors In economics, the term “ends” refers to the wants or desires that individuals seek to satisfy through the consumption of goods and services ...
INFERIOR GOODS ARE REFERRED TO IN ECONOMICS AS GOODS

INFERIOR GOODS ARE REFERRED TO IN ECONOMICS AS GOODS

A. Whose quality is low B. Consumed by very poor people C. Whose consumption falls when cunsumers' income rises ✓ D. Which satisfy only the basic needs E. None of the above In economics, inferior ...
CAPITAL MARKET

CAPITAL MARKET

Capital market is a market for medium-term and long-term loans. The capital market serves the needs of industry and the commercial sector. It comprises all the institutions which are concerned ...
MONEY MARKET

MONEY MARKET

Money market can be defined as a market for short-term loan. The market consists of institutions or individuals who either have money to lend or wish to borrow on a ...
TRADITIONAL FINANCIAL INSTITUTIONS

TRADITIONAL FINANCIAL INSTITUTIONS

The traditional financial institutions came into existence several years before the establishment of modern banking system in many countries in the West African subregion. It involves the coming together of ...
INSURANCE COMPANIES

INSURANCE COMPANIES

Insurance companies are financial institutions that are concerned with insurance. Insurance may be defined as a contract between an insurer and an insured, under which an insurer promises to indemnify ...
MORTGAGE BANKS

MORTGAGE BANKS

Mortgage banks are financial institutions that specialise in granting loans to individuals and corporate bodies for building purposes. Such loans are repaid by instalments and can be spread over several ...
MERCHANT BANKS

MERCHANT BANKS

Merchant banks are financial institutions which perform specialised functions, such as acceptance of bills of exchange, issuance of loans for foreign trade transactions, issuance of new shares, and provision of ...
DEVELOPMENT BANKS

DEVELOPMENT BANKS

Development banks are specialised financial institutions which provide long-term credit or loan to other enterprises for capital projects. They provide loans for projects in the area of agriculture, commerce and ...
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