CRUSH 2023 UTME/Science/Arts/commercial

The cross elasticity of demand between the complementary products is:
A.Positive
B.Zero
C.Negative
D.Infinite
Answer: *Detailed Solution Below*
Option C: Negative

The correct answer is Negative

*Key Points*
Complementary Goods:*Complementary goods* are products which are used together and hence, their demand exists because of one another. For example - torch light and battery.
*Important note*: Cross-Elasticity of demand is a *measure of how responsive a good's demand* is to a change in the price of a related good.
It is always expressed as a percentage.
The cross elasticity of demand for substitute goods is always positive *because the demand for one good increases when the price for the substitute good increases.*
Alternatively, the cross elasticity of demand for complementary goods is *negative cross-elasticity of Complementary goods*:
The demand for complementary items will have a negative cross-elasticity;
when the price of one commodity rises, demand for the other two goods falls.
The higher the cross elasticity of demand, the more closely related the commodities are.

Circular flow of income in a closed economy- the firm and individual household

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HOW TO PREPARE PROPERLY FOR JAMB UTME
1) Start early
2) Study Exhaustively Using JAMB UTME Syllabus, Recommended Textbooks, and Credible Past Questions
3) Leverage on the Internet
4) Make proper/effective use of past questions

1•When To Start 🤷🏼‍♂️
START EARLY.
*For those already done with secondary school, I'll recommend 6 months (4 months of extensive reading, and 2 months of revision/practising of past questions)
*For those still in secondary school, I'll recommend you start preparing for UTME immediately after you start SS2.

A lot of people ask me when I started preparing for UTME and when I tell them, they're like "wow! Won't I forget most of what I learnt if I start that early?".
Well, here are some benefits of starting early:
°Less tension
°More time for detailed study
°Confidence booster

2•What To Study
Four tools that are essential for proper preparation for UTME are:
*UTME Syllabus - It's quite sad that many Jambites don't know that there is a syllabus to guide them on what to study for the examination, and not all who know actually use it.
*Textbooks - For each UTME subject, there are textbooks recommended by JAMB and individuals.
*The Internet - There are topics you'll find in the syllabus that you won't see in your textbook(s), this is where the internet (Google, Wikipedia, etc.) comes in. You can also use the internet to connect with other Jambites in form of study groups.
Sites like Myschool serve as a source of past questions and answers.
*Past Questions - Past questions help you to know how prepared you are for the examination, how the exam questions are structured, and the topics from which questions are commonly drawn.
However, when using past questions, the answers provided must be correct. For this, I recommend Myschool.

3•How To Study
This depends mostly on individual preference, and on the amount of time, you have to prepare.
For instance, you could choose to study a subject at a time, or all the subjects concurrently, taking a topic at a time. You could choose to make notes, highlight your texts, or only take mental notes.
If you however find it difficult to study on your own, please do well to sign up for tutorials from reputable tutors.

4•How To Use Past Questions Effectively
Many students make the mistake of cramming/trying to cram past questions and their answers. Some study past questions instead of their textbooks.
Past questions are meant to be used for revision, practice, and self-evaluation (I e. after you might have finished studying your textbooks).
*It is important to note that not all answers provided for the past questions are correct. If you feel that the answer provided for a particular question is wrong, do well to find a correct answer
•••Set A Target•••
Lastly, you must have a target. Aim for a high (but reasonable) score, as the higher your score, the higher your chances of gaining admission into your preferred course/institution.

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