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Question 1 Report
A downward sloping demand curve intersect a fixed supply curve, A shift of this demand curve to the right implies that?
Question 2 Report
Division of labour has many advantages . Not withstanding, it is greatly limited by?
Question 3 Report
Money performs a number of functions, ONE of these functions makes is possible for any person to provide for old age?
Question 5 Report
When demand is elastic, it means that consumers
Question 6 Report
The effect of emigration on a country's population, all other things remaining equal, is to
Question 7 Report
Which of the following enterprises does NOT pursue the sole objective of profit maximization?
Question 8 Report
Production possibilities(alternatives)
P Q R S T
Units of shelter 5 4 3 2 0
Units of food 0 5 9 12 15 Basedon the above production possibilities table, the real cost of a unit of food when alternative R is selected is?
Question 10 Report
The monetary system that requires double coincidence of want is known as?
Question 12 Report
Agriculture plays a dominant role in West Africa economics because
Question 13 Report
Differentiated product is the characteristic feature of?
Question 15 Report
Which of the following defines Economics most comprehensively?
Question 17 Report
The quickest way of achieving an economic union on regional basis is to remove all?
Question 18 Report
NEPA as a public corporation is?
Question 19 Report
A greater burden of the taxes on essential goods is borne by the?
Question 21 Report
Which of the following sets fully represents factors of production?
Question 23 Report
A major function of middlemen in Nigeria is the distribution of?
Question 25 Report
In a sole proprietorship, the decisions are made by the?
Question 26 Report
Palm oil industry is located in Bendel State because the State?
Question 27 Report
Demand for a factor of production is?
Question 28 Report
If any economy is growing at an annual rate of 7% and 4% of it is known to be due to the improvements in labour and capital combined, the balance of 3% is usually due to?
Question 30 Report
The meaning of ‘wage-price spiral’ is?
Question 31 Report
If successive units of labour are added to a piece of land while capital and technology remain constant, a point will be reached in the level of production when each added unit of labour will added less to the output than previous units of the labour. This concept is known as?
Question 32 Report
A Nigerian household's demand curve for semovita is downward because?
Question 34 Report
The meaningof 'Dumping' is selling goods in a foreign market
Question 35 Report
Comparative cost doctrine of international trade means specialization in production
Question 36 Report
The natural growth rate of a population is the
Question 37 Report
The curves Do Do and SoSo are the demand and supply curves respectively. What happens when government subsidizes producers in order to boost output?
Question 38 Report
Disequilibrium in the balance of payment means?
Question 39 Report
In perfect competition a firm's price is equal to its marginal revenue which is again equal to average revenue. This form maximizes its profits when its marginal cost (MC) is equal to price (p). Which of the curves in the diagram below represents the firm's marginal cost (MC)?
Question 40 Report
Which of the following are direct taxes?
Question 41 Report
Nigeria is currently implementing the?
Question 42 Report
Which of thefollowing items is NOT an argument for locating industries in rural areas?
Question 43 Report
The maintenance of general economic stability in the country necessarily relies heavily on?
Question 44 Report
When a government owns enterprises, a number of advantage arise. Which of thefollowing is NOT one of such advantages?
Question 46 Report
Marginal cost curve intersects average cost curve ?
Question 47 Report
Which of the following is NOT an advantage of localization of industries?
Question 48 Report
Which of the following is NOT include in measuring national income by the income approach?
Question 49 Report
In the event of a limited liability company going into liquidation each
Question 50 Report
Full employment is a situation in which?
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