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Question 2 Report
An economic system in which the decision on what and how to produce is determined by the individual is called
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Question 4 Report
To discourage the consumption of harmful commodities, government should tax such commodities if they have
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Question 8 Report
Which of the following factors will NOT account for an outward shift of production possibility curve?
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Question 10 Report
The formular used by the Expenditure approach to calculate National income is
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Question 11 Report
The 1962-1968 development plan in nigerian failed because of
Question 12 Report
A producer who can only influence the price of his product but canNOT determine the quantity to be sold is referred to as
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Question 15 Report
The willingness of an individual backed up with purchasing power at a given time is
Question 16 Report
One of the function of united nation conference on trade and development (UNTAD) is to
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Question 18 Report
The middle value of an array figure arranged in descending order is referred to as the
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Question 22 Report
Which of the following is NOT a factor that brings about changes in demand?
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Question 23 Report
When combination of two goods which a consumer derive equal satisfaction is plotted on a graph, the graph is known as
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Question 24 Report
Remuneration of labour based on number of hours worked is known as
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Question 25 Report
Disposable income in national income accounting is an income which
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Question 26 Report
If government in a fiscal year has its revenue receipts less than the expenditure, such country is having
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Question 27 Report
Which of the following measure will NOT serves as a control during inflation period?
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Question 28 Report
The comparison of the standard of living between Nigeria and Ghana is best down through the use of
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Question 30 Report
Which of these is NOT associated with the problem of internal trade?
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Question 31 Report
An economic system in which individual control the productive resources is known as
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Question 32 Report
When an economy is having a balance of payment surplus the best alternative opened to it is to
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Question 33 Report
The act of cultivating land and rearing of animal for man’s use is
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Question 34 Report
Government expenditure on universal basic education and subsidy on agriculture are aimed at
Question 35 Report
The contribution of petroleum to the economy of nigerian is most prominent in the area of
Question 36 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 39 Report
The bank established to finances project aimed at promoting economic and social development within the African continent is
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Question 40 Report
Which of the folowing NOT among the objectives of OPEC?
Question 42 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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Question 43 Report
If the consumer demand for product X increases, as the demand for product, Y increases then the goods X and Y are
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Question 44 Report
What is the median term in the distribution below ;14, 13 29 ,15 ,13,17 ,12,
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