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Question 1 Report
A firm whose cost of production decrease as it continues to increase its output is said to be enjoying?
Question 2 Report
Public enterprises are supported on the grounds that they are undertaken for
Question 3 Report
If income rises from N200.00 to N250.00 and the amount spent on good X falls from N30.00 to N28.00, then good X is?
Question 6 Report
What is the most important factor influencing the location of the iron and steel industry at Ajaokuta?
Question 7 Report
Most firms are financed by share capital. The shares which do not carry any fixed rate of dividend are known as ?
Question 8 Report
If income rises from N200.00 to N250.00 and the amount spent on good X fails from N30.00 to N28.00, then good X is
Question 10 Report
The difference between visible exports and invisible exports of a country, in money terms, is known as the?
Question 11 Report
All of the following EXCEPT ONE are normal functions of the marketing board in Nigeria
Question 12 Report
The supply of and demand for goods and services are influenced by the?
Question 14 Report
Price discrimination can be described profitably by a monopolist when the elasticity of demand for his product is
Question 15 Report
Unit of output |
Table cost |
1 |
20 |
2 |
32 |
3 |
42 |
4 |
48 |
5 |
50 |
Question 17 Report
Which is considered the most effective tool by which the Central Bank of Nigeria can control the activities of commercial banks?
Question 18 Report
Monetary policy does NOT involve
Question 20 Report
some of major problems hindering economic development in west Africa are in the areas of electricity supply, communication, educations and health. These items are known in Economics as?
Question 22 Report
A good measure of the standard of living usually used for international comparison is
Question 23 Report
In Nigeria, a balance of payments deficit can be solved by all of the following EXECPT?
Question 24 Report
Which one of the following functions of banks in Nigeria is reserved to the Central Bank?
Question 25 Report
One of the ways by which Government derives revenue from industrial enterprises in West Africa is?
Question 26 Report
In the study of Economics, land, labour, capital and entrepreneur are referred to as factors of production. These factors produce commodities only if they are?
Question 27 Report
Taxes which are levied on a person’s expenditures are known as?
Question 28 Report
If the Central Bank intends to increase the money supply through open market operations then it will
Question 29 Report
Retailers are greater in numbers than wholesalers because?
Question 30 Report
which is not responsible for the decline in food production in West Africa?
Question 31 Report
The sloping downward of the demand curve implies that?
Question 32 Report
When the import of a commodity is limited to a definite quantity by using a trade control method, this is known as
Question 33 Report
Balance of payments of a country explains the overall position of?
Question 34 Report
Economist speak about 'opportunity cost' when a person
Question 35 Report
|
Share of gross national product (GNP) |
Share of total employment |
Growth rate of output |
All agriculture |
40% |
70% |
3% |
Industry and mining |
30% |
10% |
10% |
Trade andservices |
30% |
20% |
5% |
What is the growth rate of GNP?
Question 36 Report
In an economy, if the proportion of people who are below 18 years is 40% and those above 60 years is 30% what would this imply? the
Question 37 Report
The most dominant economic activity which employs the largest number of people in West Africa is?
Question 38 Report
The PAYE (Pay As You Earn) in Nigeria is an example of?
Question 39 Report
Full equilibrium under perfect competition requires that?
Question 40 Report
The chief sources of Federal Government revenue in Nigeria are?
Question 41 Report
if AC = Average Cost of production ,
TC = Total Cost of production
VC = Variable Cost of production
FC = Fixed Cost of production
Q = Quantity of goods produced
Then,
Question 42 Report
To calculate the annual natural growth rate of a country's population, one has to know the country's annual birth rate and
Question 43 Report
Which of the following countries is NOT a member of the economic Community of West African States?
Question 44 Report
The control price for a carton of beer in Nigeria is N7.20. But a carton of beer is sold in parts of the country for as much N15.00 The cause of this exorbitant price is that?
Question 46 Report
The main economic goal of ECOWAS is the attainment of ?
Question 47 Report
We can classify the people of Nigeria into three broad age group :Group one, 0-15years ; Group Two,16-64years; Group Three, 65years and above. Group Two is the most important economically because
Question 48 Report
A commodity can be sold for two or more different prices if it is?
Question 49 Report
Economics is a science which deals basically with
Question 50 Report
The purpose of import duties does NOT include the?
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