WAEC Economics 2020 Objective — Question 15
Question 15 of 50 from the West African Examinations Council (WAEC) Economics 2020 Objective paper, with the correct answer and a full explanation.
Advertisement
If an increase in the supply of hides increased the supply of beef, then hides and beef are in
- A. competitive supply
- B. joint supplyCorrect
- C. composite supply
- D. joint demand
Explanation
Hides and beef are by-products from the same source (cattle); an increase in one's supply is associated with an increase in the other's supply — joint supply.
Advertisement
Sign up free to unlock
- Score tracking
- Practice history
- Saved questions
- Progress dashboard
- Personalized sessions
- Weak-topic breakdown
…and/or go further with premium services and No Ads.