Effects Of Agricultural Policies And Their Effects Jamb Economics Past Questions
Question 11
The suggestion that peasants in Africa have backward-bending supply curves of output implies that their response to an increase in the price of their crops will be to?
- A. increase their output
- B. decrease their output
- C. keep their output constant
- D. hoard their output
Question 12
Infant industries are
- A. a baby food and a baby clothing factories
- B. those which are introducing new products
- C. cases of arrested development
- D. industries temporarily protected by tariff barriers until mature enough to compete on world markets
- E. industries that are allowed to remain permanent cases of adolescence
