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WAEC Economics 2022 Question 13

Question 13

Theory of Supply

The production of rice and yam on the same farmland is an example of

  1. A.joint supply
  2. B.composite supply
  3. C.competitive supply
  4. D.market supply
Show the answer and explanation

Answer: C (competitive supply)

Explanation

Rice and yam compete for the same land: more of one means less of the other.