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WAEC Economics 2008 Question 10

Question 10

Theory of Supply

Which of the following determinants of supply cannot be predicted easily?

  1. A.Price of the commodity
  2. B.New techniques of production
  3. C.National emergencies
  4. D.Mobility of labour.
Show the answer and explanation

Answer: C (National emergencies)

Explanation

Emergencies such as wars and disasters happen unexpectedly, so their effect on supply cannot be foreseen.