NECO Commerce 2023 Objective — Question 29

Question 29 of 50 from the National Examinations Council (NECO) Commerce 2023 Objective paper, with the correct answer and a full explanation.

When more than one commodity is jointly produced or supplied from the same source, an increase in the supply of one leads to an increase in the supply of the others. This is known as (a) composite supply (b) joint supply (c) complementary supply (d) derived supply

A. composite supply
B. joint supplyCorrect
C. complementary supply
D. derived supply

Explanation

Joint supply occurs when two or more products are produced from the same source (e.g. petrol and kerosene from crude oil), so an increase in one increases the supply of the others.

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