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Question 1 Report
All the following are the objectives of economic planning EXCEPT to
Question 2 Report
The main industrial cities in Nigeria are
Question 3 Report
When total utility is at maximum, then marginal utility is
Question 4 Report
The types of unemployment that evolved the use of machines to replaces human labour is known as
Question 5 Report
Which of the following is NOT a factor to be considered in siting an industry in a particular area?
Question 6 Report
In international trade, when payments of a country are higher than the receipts, then the balance of payment is
Question 7 Report
When a change in the demand for commodity A leads to a change in demand for commodity B in the same direction, demand for A & B is
Question 8 Report
A negative effect of the discovery of petroleum on the Nigerian economy is
Question 9 Report
The unit of satisfaction dived from the consumption of an additional unit of a commodity is known as
Question 10 Report
The excess profit made by a firm in a competitive market situation in the short-term is known as
Question 11 Report
When Elasticity of Demand is greater than one, the demand is
Question 12 Report
The assumptions of the principles of comparative cost advantage is based on
I. Absence of Trade Restrictions
II. No transport costs
III. Constant technology
Question 13 Report
In a socialist economic system, decisions relating to the fundamental economic problems are taken by
Question 14 Report
Individuals who buy new shares in anticipation of reselling at higher prices in the stock exchange market are called
Question 15 Report
Which of the following will NOT be a barrier to international trade?
Question 16 Report
The desire to hold cash balances in order to meet expenditures which arises due to unforeseen circumstances is
Question 17 Report
In Economics, want means…………aspiration
Question 18 Report
The most generally accepted definition of Economics was given by
Question 19 Report
A firm with a total of 54 employees produced 108 tonnes of toilet tissues in 3months. What is the average production per employee?
Question 20 Report
Which of the following factors will NOT affect supply of maize in Nigeria?
Question 21 Report
Points outside the production possibility curves shows
Question 22 Report
To an individual, the term cost will include expenditure on the following EXCEPT
Question 23 Report
The amount of money required for the day-to-day running of a business is known as
Question 24 Report
Which of the following is NOT a function of the wholesaler in the distributive channel?
Question 25 Report
Demand for labour depends on the following factors EXCEPT
Question 26 Report
The decision of whether to use labour or capital intensive techniques in production process is a problem of
Question 27 Report
The introduction of money into the economy has helped to resolve the following problems EXCEPT
Question 28 Report
The indices used to measure the cost of living is
Question 29 Report
Which of the following is true about average cost?
Question 30 Report
Which of the following is NOT a problem of population census in Nigeria?
Question 31 Report
A business organization set up for the mutual benefits of member with similar interest is known as
Question 32 Report
An inflation which occurs as a result of increase in production cost is known as
Question 33 Report
The following are the main problems of distribution of essential commodities in Nigeria EXCEPT
Question 34 Report
A development planning which takes a long range view of the economy and covers a period of 10-20 years is regarded as
Question 35 Report
Arrangement of wants in order of importance is brought about by
Question 36 Report
The basic economics problem of what to produce arises as a result of
Question 37 Report
Excise duties are taxes levied on
Question 38 Report
The main differences between money market and capital market is that money markets
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