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Question 1 Report
An economy in which decision of what to produce is taken partly by private individuals and state is referred to as Economy.
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Question 2 Report
The following are rewards for factors of production EXCEPT
Question 3 Report
Which of the following is NOT a positive contribution a petroleum to Nigeria economy?
Question 5 Report
Which of the following is NOT a function of the IMF?
Question 7 Report
The following are the objectives of agricultural policies in Nigeria EXCEPT
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Question 8 Report
Stock exchange market deals with
Question 9 Report
An industry engaged in the extraction of raw materials and its conversion into semi-finished goods is called industry.
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Question 10 Report
Under perfect competition, a profit maximizing firm will hire labour up to the point where the last unit of labor adds
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Question 11 Report
An industry operating in a perfect competitive market situation will maximum profit when
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Question 13 Report
Production is said to be complete when goods and services gets to the
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Question 15 Report
Which of the following is NOT a major role of OPEC in production, and marketing of petroleum?
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Question 18 Report
ECOWAS secretariat is located in
Question 19 Report
The satisfaction derived from Die consumption of a commodity is referred o as
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Question 20 Report
Which of the following is NOT included in-measuring the National income through the income approach?
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Question 21 Report
When an increase in the price of a commodity lead to a fall In the demand for aNOTher, the demand for the two commodities are said to be
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Question 22 Report
The trade-off between two commodities along the Production Possibility Curve (PPC) shows
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Question 24 Report
The following are problems of development planning in Nigeria EXCEPT
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Question 25 Report
Range is NOT the best method of measuring dispersion because it considers only the
Question 26 Report
Which of the following is the correct order in the chain of distribution?
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Question 27 Report
The following will occur when maximum price is fixed below the free market price EXCEPT that
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Question 28 Report
The recent revolution of Cassava from ordinary food crop to export crop will lead to
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Question 29 Report
The system of farming which involves the use of a large hectare of land planted with economic crops is known as
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Question 30 Report
The use of tax and expenditure policy to regulate the economy is known as
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Question 31 Report
A business formation with a minimum of two and maximum of twenty persons is called
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Question 33 Report
Which of the following will NOT bring about an increase in Labour force?
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Question 34 Report
Which of the following is NOT a function of marketing boards in Nigeria?
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Question 37 Report
If two bags of rice were sold for N1,250 a mouth ago and two weeks later, the same amount was used to procure one bag. This simply means that the value of money is
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Question 38 Report
If the standard deviation of a set of numbers is 3.6, what is the variance?
Question 39 Report
A major characteristics of a firm operating at a long-run equilibrium position is that
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Question 40 Report
Which of the following is NOT associated with minimum price legislation?
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Question 41 Report
If the population of a school is 600 and 60% are In JSS, how many students are in SSS?
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Question 42 Report
In the equation Q = a - bp + e; Q and P are .... Variables respectively.
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Question 43 Report
When the total product starts falling, then the marginal product is
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Question 44 Report
Which of the following is a disadvantage of localization of industries?
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Question 45 Report
The following can be used to improve a country’s balance of payment EXCEPT
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