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Pregunta 1 Informe
A business formation with a minimum of two and maximum of twenty persons is called
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Pregunta 2 Informe
When the total product starts falling, then the marginal product is
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Pregunta 3 Informe
An industry engaged in the extraction of raw materials and its conversion into semi-finished goods is called industry.
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Pregunta 5 Informe
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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Pregunta 6 Informe
In the equation Q = a - bp + e; Q and P are .... Variables respectively.
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Pregunta 7 Informe
The following are rewards for factors of production EXCEPT
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Pregunta 8 Informe
If the population of a school is 600 and 60% are In JSS, how many students are in SSS?
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Pregunta 9 Informe
The following are problems of development planning in Nigeria EXCEPT
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Pregunta 10 Informe
The satisfaction derived from Die consumption of a commodity is referred o as
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Pregunta 12 Informe
The following are the objectives of agricultural policies in Nigeria EXCEPT
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Pregunta 13 Informe
The trade-off between two commodities along the Production Possibility Curve (PPC) shows
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Pregunta 14 Informe
The 2nd National Development plan in Nigeria was between
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Pregunta 15 Informe
Which of the following is a disadvantage of localization of industries?
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Pregunta 17 Informe
The following can be used to improve a country’s balance of payment EXCEPT
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Pregunta 18 Informe
Production is said to be complete when goods and services gets to the
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Pregunta 19 Informe
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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Pregunta 20 Informe
An industry operating in a perfect competitive market situation will maximum profit when
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Pregunta 21 Informe
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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Pregunta 22 Informe
The problem of “how to produce” in any economy is solved by
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Pregunta 23 Informe
Which of the following is NOT a major role of OPEC in production, and marketing of petroleum?
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Pregunta 24 Informe
The variance of a given set of numbers is defined as the
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Pregunta 25 Informe
Which of the following is NOT a positive contribution a petroleum to Nigeria economy?
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Pregunta 27 Informe
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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Pregunta 29 Informe
The use of tax and expenditure policy to regulate the economy is known as
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Pregunta 30 Informe
If the standard deviation of a set of numbers is 3.6, what is the variance?
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Pregunta 32 Informe
Range is NOT the best method of measuring dispersion because it considers only the
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Pregunta 33 Informe
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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Pregunta 34 Informe
Which of the following will NOT bring about an increase in Labour force?
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Pregunta 35 Informe
Which of the following is the correct order in the chain of distribution?
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Pregunta 36 Informe
Which of the following is NOT included in-measuring the National income through the income approach?
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Pregunta 37 Informe
A major characteristics of a firm operating at a long-run equilibrium position is that
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Pregunta 38 Informe
Which of the following is NOT associated with minimum price legislation?
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Pregunta 40 Informe
The following will occur when maximum price is fixed below the free market price EXCEPT that
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Pregunta 41 Informe
Which of the following is NOT an objective of Economic planning?
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Pregunta 43 Informe
The following determine the level of consumption EXCEPT
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Pregunta 44 Informe
The recent revolution of Cassava from ordinary food crop to export crop will lead to
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Pregunta 45 Informe
Which of the following is NOT a function of marketing boards in Nigeria?
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