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Question 1 Report
Which of the following is a determinant of elasticity of supply?
Question 4 Report
The price and quantity of crude oil and petrol sold to other countries by Nigeria is fixed by the
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Question 5 Report
The following are the differences between domestic and international trade EXCEPT
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Question 7 Report
Through membership of the Economic Community of West African States (ECOWAS) countries have achieved
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Question 13 Report
The amount of satisfaction per unit of the commodity consumed is called
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Question 18 Report
Which of the following is NOT an advantage of tabular presentation of data?
Question 22 Report
One of the positive contributions of the petroleum industry to Nigeria’s economic development is that it
Question 23 Report
Price elasticity of supply measures the responsiveness of quantity supplied to
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Question 26 Report
In a given set of data, if the variance is 25, what is the standard deviation?
Question 28 Report
When the value of a country’s export exceeds her imports, there will be a
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Question 30 Report
The demand curve of a perfect competitive market is infinitely elastic indicating that the firm can
Question 31 Report
Which of these factors causes a change in the quantity demanded of a commodity?
Question 32 Report
Which of the following hinder(s) effective distribution of goods in Nigeria?
Question 33 Report
The correct relationship between income (Y), consumption (C) and savings (S) is
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Question 34 Report
The mean of the following scores
30, 32, 34, 36, 38, 40 and 42
What is the mean deviation?
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Question 36 Report
When the demand for foreign exchange exceeds its supply, the value of the domestic currency
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Question 37 Report
Oil was first discovered in commercial quantity in ……….. State.
Question 39 Report
Using Expenditure Approach to estimate National Income, Y is equal to
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Question 41 Report
These are the objectives of industrial strategies in Nigeria EXCEPT
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Question 42 Report
The concentration of firms in one area is referred to as of ……………. industries.
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Question 44 Report
The process of building up country’s capacity to process raw materials for the production of goods is known as
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Question 45 Report
The additional satisfaction derived from the consumption of one more unit of a good is called
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Question 47 Report
One of the roles of industrialization in economic development of Nigeria is
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Question 48 Report
The unit for measuring changes in prices and output is called ………………. index
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