Email: bbcnoun@gmail.com Whatsapp: 08131667008 ECO802 Question: Economists define inferior goods as goods in which their demands decrease as consumer’s income Answer: Increases Question: A horizontal summation of individual demand schedule gives rise to the Answer: Market demand schedule Question: They following are not market participants Answer: None Question: The three most common forms of demand functions are except Answer: Independent variable Question: Circular flow of economic activities shows Answer: interactions of market Question: Market Demand is Answer: All individual demand Question: The following are the assumptions of Utility function except Answer: Satisfaction Question: They concept of utility talk about overall Answer: Satisfaction Question: The factor markets are the markets for Answer: Factors of Production Question: Product markets are the markets for Answer: Goods and Services Email: bbcnoun@gmail.com Whatsapp: 08131667008