Supply – NBC Institute

BMF- Nov 2020 – L1 – SA – Q20 – The Business Environment

Identify the correct statement regarding the laws of demand and supply.

Question

Which of the following statements in relation to the laws of demand and supply is correct?
A. An increase in price leads to an increase in demand
B. A decrease in price leads to a decrease in demand
C. If demand is highly elastic, a reduction in the sales price will result in an increase in total sales revenue
D. The quantity of a good that suppliers are willing to sell falls when the price of the good rises
E. The quantity of a good that suppliers are willing to sell rises when the price of the good falls

Answer

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Tags: Demand, Economic Laws, Supply
Level: Level 1

Topic: The Business Environment
Series: NOV 2020

TAX – Nov 2021 – L2 – Q6 – Value Added Tax (VAT)

Explanation of when goods and services are deemed to be supplied in Nigeria according to section 2 of the VAT Act.

Question

Taxable supplies of goods and services are those listed under the First Schedule of
the Value Added Tax Act Cap VI for 2004 (as amended). Essentially, these are goods
and services liable to value added tax at the prescribed rate.
Required:
Explain when goods and services shall be deemed to be supplied in Nigeria in
accordance with section 2 of VAT Act (as amended).

Answer

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Tags: Goods, Nigeria, Services, Supply, VAT
Level: Level 2

Topic: Value-Added Tax (VAT)
Series: NOV 2021

QTB – May 2015 – L1 – SB – Q3a – Operations Research

Determining the equilibrium price and quantity from demand and supply functions.

Question

A producer wishes to determine the equilibrium price and quantity of his goods in the
market. He estimated the market demand and supply functions as follows:

where P is the price in thousands of naira and q is quantity in thousands of units, calculate
the equilibrium price and quantity for the producer

Answer

Find Related Questions by Tags, levels, etc.

Tags: Demand, Equilibrium, Price, Quantity, Supply
Level: Level 1

Topic: Operations Research
Series: MAY 2015

BMF- Nov 2020 – L1 – SA – Q20 – The Business Environment

Identify the correct statement regarding the laws of demand and supply.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Demand, Economic Laws, Supply
Level: Level 1

Topic: The Business Environment
Series: NOV 2020

TAX – Nov 2021 – L2 – Q6 – Value Added Tax (VAT)

Explanation of when goods and services are deemed to be supplied in Nigeria according to section 2 of the VAT Act.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Goods, Nigeria, Services, Supply, VAT
Level: Level 2

Topic: Value-Added Tax (VAT)
Series: NOV 2021

QTB – May 2015 – L1 – SB – Q3a – Operations Research

Determining the equilibrium price and quantity from demand and supply functions.

Question

A producer wishes to determine the equilibrium price and quantity of his goods in the
market. He estimated the market demand and supply functions as follows:

where P is the price in thousands of naira and q is quantity in thousands of units, calculate
the equilibrium price and quantity for the producer

Answer

Find Related Questions by Tags, levels, etc.

Tags: Demand, Equilibrium, Price, Quantity, Supply
Level: Level 1

Topic: Operations Research
Series: MAY 2015

Question Tag: Supply

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BMF- Nov 2020 – L1 – SA – Q20 – The Business Environment

Identify the correct statement regarding the laws of demand and supply.

TAX – Nov 2021 – L2 – Q6 – Value Added Tax (VAT)

Explanation of when goods and services are deemed to be supplied in Nigeria according to section 2 of the VAT Act.

QTB – May 2015 – L1 – SB – Q3a – Operations Research

Determining the equilibrium price and quantity from demand and supply functions.

BMF- Nov 2020 – L1 – SA – Q20 – The Business Environment

Identify the correct statement regarding the laws of demand and supply.

TAX – Nov 2021 – L2 – Q6 – Value Added Tax (VAT)

Explanation of when goods and services are deemed to be supplied in Nigeria according to section 2 of the VAT Act.

QTB – May 2015 – L1 – SB – Q3a – Operations Research

Determining the equilibrium price and quantity from demand and supply functions.

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BMF- Nov 2020 – L1 – SA – Q20 – The Business Environment

Identify the correct statement regarding the laws of demand and supply.

You're reporting an error for "BMF- Nov 2020 – L1 – SA – Q20 – The Business Environment"

TAX – Nov 2021 – L2 – Q6 – Value Added Tax (VAT)

Explanation of when goods and services are deemed to be supplied in Nigeria according to section 2 of the VAT Act.

You're reporting an error for "TAX – Nov 2021 – L2 – Q6 – Value Added Tax (VAT)"

QTB – May 2015 – L1 – SB – Q3a – Operations Research

Determining the equilibrium price and quantity from demand and supply functions.

You're reporting an error for "QTB – May 2015 – L1 – SB – Q3a – Operations Research"

BMF- Nov 2020 – L1 – SA – Q20 – The Business Environment

Identify the correct statement regarding the laws of demand and supply.

You're reporting an error for "BMF- Nov 2020 – L1 – SA – Q20 – The Business Environment"

TAX – Nov 2021 – L2 – Q6 – Value Added Tax (VAT)

Explanation of when goods and services are deemed to be supplied in Nigeria according to section 2 of the VAT Act.

You're reporting an error for "TAX – Nov 2021 – L2 – Q6 – Value Added Tax (VAT)"

QTB – May 2015 – L1 – SB – Q3a – Operations Research

Determining the equilibrium price and quantity from demand and supply functions.

You're reporting an error for "QTB – May 2015 – L1 – SB – Q3a – Operations Research"

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