NABTEB Economics 2022 Objective — Question 12
Question 12 of 50 from the National Business and Technical Examinations Board (NABTEB) Economics 2022 Objective paper, with the correct answer and a full explanation.
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An increase in the price of commodity X led to a fall in the supply of commodity Y. Commodities X and Y are
- A. competitive goods
- B. composite goods
- C. jointly suppliedCorrect
- D. derived goods
Explanation
Goods in joint supply are produced together from the same source; an increase in production of X (due to higher price) affects the supply of the jointly-supplied by-product Y.
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