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WAEC Economics 2005 Question 16

Question 16

Theory of Supply

Amount of goods offered to the market at respective prices and presented in a table is called

  1. A.price schedule
  2. B.supply schedule
  3. C.scale of preference
  4. D.demand schedule.
Show the answer and explanation

Answer: B (supply schedule)

Explanation

A table of quantities offered for sale at various prices is a supply schedule.