ECO121 Solutions

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Supply of palm kernel and palm oil is an example of ———

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The following except ——, are factors that influnce market supply

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The quantity of a commodity the producer is willig and able to sell at the current market price is known as —–

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Regulation of price by government is known as ———

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Competitive supply imply production of two commodities from the same ——–

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The three economic decision making units are; ——, ——, and ——

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If Qd = 5 – P , and Qs = -5 + P, then equilibrium price and quantity will be ——

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A production period in which some input factors are fixed while other varies is known as ———

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The equation Q = a + tP, depicts ———

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If government fixes price above equilibrium, it is known as ——-

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Clerical transaction is carried out in

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