WAEC Economics 2022 Objective — Question 13
Question 13 of 50 from the West African Examinations Council (WAEC) Economics 2022 Objective paper, with the correct answer and a full explanation.
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The production of rice and yam on the same farmland is an example of
- A. joint supply
- B. composite supply
- C. competitive supplyCorrect
- D. market supply
Explanation
When land/resources used for producing one commodity (rice) could alternatively be used to produce another (yam), the two are said to be in competitive supply.
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