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Pergunta 1 Relatório
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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Pergunta 2 Relatório
A business organization set up for the mutual benefits of member with similar interest is known as
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Pergunta 3 Relatório
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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Pergunta 5 Relatório
To an individual, the term cost will include expenditure on the following EXCEPT
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Pergunta 6 Relatório
Which of the following is NOT a function of the wholesaler in the distributive channel?
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Pergunta 7 Relatório
In a socialist economic system, decisions relating to the fundamental economic problems are taken by
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Pergunta 9 Relatório
The excess profit made by a firm in a competitive market situation in the short-term is known as
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Pergunta 10 Relatório
When Elasticity of Demand is greater than one, the demand is
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Pergunta 12 Relatório
The amount of money required for the day-to-day running of a business is known as
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Pergunta 13 Relatório
The types of unemployment that evolved the use of machines to replaces human labour is known as
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Pergunta 14 Relatório
The decision of whether to use labour or capital intensive techniques in production process is a problem of
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Pergunta 15 Relatório
The basic economics problem of what to produce arises as a result of
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Pergunta 16 Relatório
Demand for labour depends on the following factors EXCEPT
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Pergunta 17 Relatório
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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Pergunta 18 Relatório
Arrangement of wants in order of importance is brought about by
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Pergunta 20 Relatório
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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Pergunta 21 Relatório
Which of the following factors will NOT affect supply of maize in Nigeria?
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Pergunta 22 Relatório
Which of the following will NOT be a barrier to international trade?
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Pergunta 24 Relatório
The desire to hold cash balances in order to meet expenditures which arises due to unforeseen circumstances is
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Pergunta 25 Relatório
The unit of satisfaction dived from the consumption of an additional unit of a commodity is known as
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Pergunta 26 Relatório
Which of the following is NOT a factor to be considered in siting an industry in a particular area?
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Pergunta 27 Relatório
Which of the following is NOT a problem of population census in Nigeria?
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Pergunta 28 Relatório
Individuals who buy new shares in anticipation of reselling at higher prices in the stock exchange market are called
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Pergunta 29 Relatório
An inflation which occurs as a result of increase in production cost is known as
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Pergunta 31 Relatório
The most generally accepted definition of Economics was given by
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Pergunta 32 Relatório
The introduction of money into the economy has helped to resolve the following problems EXCEPT
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Pergunta 33 Relatório
A negative effect of the discovery of petroleum on the Nigerian economy is
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Pergunta 35 Relatório
When total utility is at maximum, then marginal utility is
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Pergunta 36 Relatório
In international trade, when payments of a country are higher than the receipts, then the balance of payment is
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Pergunta 37 Relatório
The following are the main problems of distribution of essential commodities in Nigeria EXCEPT
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Pergunta 38 Relatório
The main differences between money market and capital market is that money markets
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Pergunta 39 Relatório
All the following are the objectives of economic planning EXCEPT to
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