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Pregunta 1 Informe
An inflation which occurs as a result of increase in production cost is known as
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Pregunta 2 Informe
When total utility is at maximum, then marginal utility is
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Pregunta 3 Informe
The assumptions of the principles of comparative cost advantage is based on
I. Absence of Trade Restrictions
II. No transport costs
III. Constant technology
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Pregunta 4 Informe
The amount of money required for the day-to-day running of a business is known as
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Pregunta 5 Informe
In international trade, when payments of a country are higher than the receipts, then the balance of payment is
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Pregunta 6 Informe
A business organization set up for the mutual benefits of member with similar interest is known as
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Pregunta 9 Informe
The decision of whether to use labour or capital intensive techniques in production process is a problem of
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Pregunta 10 Informe
Which of the following is NOT a factor to be considered in siting an industry in a particular area?
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Pregunta 11 Informe
A firm with a total of 54 employees produced 108 tonnes of toilet tissues in 3months. What is the average production per employee?
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Pregunta 12 Informe
Arrangement of wants in order of importance is brought about by
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Pregunta 13 Informe
The desire to hold cash balances in order to meet expenditures which arises due to unforeseen circumstances is
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Pregunta 14 Informe
In a socialist economic system, decisions relating to the fundamental economic problems are taken by
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Pregunta 15 Informe
The types of unemployment that evolved the use of machines to replaces human labour is known as
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Pregunta 16 Informe
Which of the following will NOT be a barrier to international trade?
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Pregunta 19 Informe
The main differences between money market and capital market is that money markets
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Pregunta 21 Informe
Which of the following is NOT a function of the wholesaler in the distributive channel?
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Pregunta 24 Informe
Which of the following factors will NOT affect supply of maize in Nigeria?
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Pregunta 25 Informe
The basic economics problem of what to produce arises as a result of
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Pregunta 26 Informe
Which of the following is NOT a problem of population census in Nigeria?
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Pregunta 27 Informe
A negative effect of the discovery of petroleum on the Nigerian economy is
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Pregunta 28 Informe
Individuals who buy new shares in anticipation of reselling at higher prices in the stock exchange market are called
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Pregunta 29 Informe
The excess profit made by a firm in a competitive market situation in the short-term is known as
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Pregunta 30 Informe
Demand for labour depends on the following factors EXCEPT
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Pregunta 31 Informe
The most generally accepted definition of Economics was given by
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Pregunta 32 Informe
All the following are the objectives of economic planning EXCEPT to
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Pregunta 33 Informe
To an individual, the term cost will include expenditure on the following EXCEPT
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Pregunta 34 Informe
When Elasticity of Demand is greater than one, the demand is
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Pregunta 35 Informe
The unit of satisfaction dived from the consumption of an additional unit of a commodity is known as
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Pregunta 36 Informe
The following are the main problems of distribution of essential commodities in Nigeria EXCEPT
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Pregunta 37 Informe
The introduction of money into the economy has helped to resolve the following problems EXCEPT
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Pregunta 38 Informe
A development planning which takes a long range view of the economy and covers a period of 10-20 years is regarded as
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Pregunta 39 Informe
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
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