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Question 1 Report
A market situation with few sellers and many buyers is called
Question 2 Report
A producer who can only influence the price of his product but canNOT determine the quantity to be sold is referred to as
Question 3 Report
Transcationary motive implies, holding money
Question 4 Report
Which of the folowing NOT among the objectives of OPEC?
Question 5 Report
In a two-sector economy, income is a function of
Question 6 Report
The main disadvantages of deflationary policies is
Question 7 Report
The main function of retailer in the distribution channel is
Question 8 Report
Which of the following factors will NOT account for an outward shift of production possibility curve?
Question 9 Report
The 1962-1968 development plan in nigerian failed because of
Question 10 Report
An economic system in which the decision on what and how to produce is determined by the individual is called
Question 11 Report
If the consumer demand for product X increases, as the demand for product, Y increases then the goods X and Y are
Question 13 Report
Which of the following measure will NOT serves as a control during inflation period?
Question 14 Report
One of the fundamental economic problem of every society is
Question 15 Report
The comparison of the standard of living between Nigeria and Ghana is best down through the use of
Question 16 Report
Remuneration of labour based on number of hours worked is known as
Question 17 Report
The middle value of an array figure arranged in descending order is referred to as the
Question 18 Report
The demand for labour in an economy is a depiction of
Question 20 Report
The following are reward for factors of production EXCEPT
Question 21 Report
Which of the following is NOT a factor that brings about changes in demand?
Question 23 Report
If government in a fiscal year has its revenue receipts less than the expenditure, such country is having
Question 24 Report
An economic system in which individual control the productive resources is known as
Question 25 Report
The bank established to finances project aimed at promoting economic and social development within the African continent is
Question 26 Report
Disposable income in national income accounting is an income which
Question 27 Report
Which of these is NOT associated with the problem of internal trade?
Question 28 Report
When an economy is having a balance of payment surplus the best alternative opened to it is to
Question 31 Report
The following are type of business organization EXCEPT
Question 32 Report
Long-run in economic mean a period of time in which
Question 34 Report
In production, total cost comprises of
Question 35 Report
In income determination theory, acceleration principles shows that
Question 36 Report
Which of the following is NOT a feature of capitalism ?
Question 37 Report
If commodities A & B are jointly demanded, what will be the effect of an increase in the price of A on the demand for commodity B?
Question 38 Report
The contribution of petroleum to the economy of nigerian is most prominent in the area of
Question 39 Report
When combination of two goods which a consumer derive equal satisfaction is plotted on a graph, the graph is known as
Question 40 Report
To discourage the consumption of harmful commodities, government should tax such commodities if they have
Question 41 Report
Government expenditure on universal basic education and subsidy on agriculture are aimed at
Question 42 Report
One of the function of united nation conference on trade and development (UNTAD) is to
Question 43 Report
The willingness of an individual backed up with purchasing power at a given time is
Question 44 Report
If the prices of a commodity increases from N8.00 to N10.00 and the demand decreases from 100 to 80 respectively, what is the price elasticity of demand for the commodity?
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