Correct Answer: C. offered for sale at a market place

Explanation

In economics, effective demand (ED) in a market is the demand for a product or service which occurs when purchasers are constrained in a different market. it is the Quantity of a good or service that consumers are actually buying at the current market price.

Explanation

The law of demand states that " The higher the price, the lower the quantity demanded". The demand curve slopes downwards from left to right. However, this may not be so in all situations due to the following:

(a) Goods of ostentation: Some consumers take pride in buying goods whose prices are high. The higher the price, the higher the quantity demanded. Example of ostentatious goods are expensive jewelries, gold watches.

(b) Articles of necessities: Some items are considered essential to the extent that people cannot do without them. Examples are garri, salt etc. The low income earners prefer sacrificing other items at the expense of these ones. Therefore, the higher the price of these items, the higher will be the demand for them.

Correct Answer: C. law of diminishing returns

Correct Answer: A) Complimentary

Explanation

This question is asking about two commodities, X and Y, and how they relate to each other in terms of price and demand. If the price of commodity X goes up because there is an increase in demand for commodity Y, we need to determine the relationship between these two commodities.

The answer choices are: complimentary, substitute, composite or intermediate. Complimentary goods are those that are used together, such as bread and butter. Substitute goods are those that can be used in place of each other, such as coffee and tea. Composite goods are a combination of two or more goods, such as a car. Intermediate goods are goods that are used to produce other goods.

In this case, if the price of commodity X increases because of an increase in demand for commodity Y, then the two commodities are likely to be complimentary goods. This means that they are used together, and an increase in demand for one leads to an increase in demand for the other.

For example, if the price of peanut butter, which is commodity X, goes up because there is an increase in demand for jelly, which is commodity Y, then we can assume that peanut butter and jelly are complimentary goods. When people buy more jelly, they also buy more peanut butter to go with it.

To summarize, when the price of commodity X increases because of an increase in demand for commodity Y, the two commodities are likely to be complimentary goods.

Correct Answer: A. positive

Correct Answer: C. is a palm-tree growing area

Correct Answer: B. inelastic

Explanation

In case of perishable goods such as vegetables, fruits, and other eatables, the supply would be inelastic. This is because the supply of perishable goods cannot be increased or decreased easily.

Correct Answer: A. advertising

Correct Answer: D. capital consumption

Correct Answer: C. communal land

Explanation

Communal land is a community land.