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JAMB Economics 2012 Question 15

Question 15

Theory of Supply

The supply of cocoa is influenced by

  1. A.seasonal conditions
  2. B.the efficacy of fertilizer used
  3. C.the demand for beverages
  4. D.the availability of close substitutes.
Show the answer and explanation

Answer: A (seasonal conditions)

Explanation

Cocoa is a farm crop, so weather and the seasons largely decide how much is harvested and supplied.