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Ibeere 1 Ìròyìn
The excess profit made by a firm in a competitive market situation in the short-term is known as
Awọn alaye Idahun
Ibeere 2 Ìròyìn
A firm with a total of 54 employees produced 108 tonnes of toilet tissues in 3months. What is the average production per employee?
Awọn alaye Idahun
Ibeere 3 Ìròyìn
Which of the following is NOT a factor to be considered in siting an industry in a particular area?
Awọn alaye Idahun
Ibeere 4 Ìròyìn
The unit of satisfaction dived from the consumption of an additional unit of a commodity is known as
Awọn alaye Idahun
Ibeere 5 Ìròyìn
A negative effect of the discovery of petroleum on the Nigerian economy is
Awọn alaye Idahun
Ibeere 6 Ìròyìn
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
Ibeere 7 Ìròyìn
The decision of whether to use labour or capital intensive techniques in production process is a problem of
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Ibeere 8 Ìròyìn
The types of unemployment that evolved the use of machines to replaces human labour is known as
Awọn alaye Idahun
Ibeere 14 Ìròyìn
The assumptions of the principles of comparative cost advantage is based on
I. Absence of Trade Restrictions
II. No transport costs
III. Constant technology
Awọn alaye Idahun
Ibeere 15 Ìròyìn
Which of the following factors will NOT affect supply of maize in Nigeria?
Awọn alaye Idahun
Ibeere 16 Ìròyìn
An inflation which occurs as a result of increase in production cost is known as
Awọn alaye Idahun
Ibeere 19 Ìròyìn
A business organization set up for the mutual benefits of member with similar interest is known as
Awọn alaye Idahun
Ibeere 20 Ìròyìn
In international trade, when payments of a country are higher than the receipts, then the balance of payment is
Awọn alaye Idahun
Ibeere 22 Ìròyìn
Which of the following is NOT a function of the wholesaler in the distributive channel?
Awọn alaye Idahun
Ibeere 23 Ìròyìn
In a socialist economic system, decisions relating to the fundamental economic problems are taken by
Awọn alaye Idahun
Ibeere 24 Ìròyìn
All the following are the objectives of economic planning EXCEPT to
Awọn alaye Idahun
Ibeere 25 Ìròyìn
The introduction of money into the economy has helped to resolve the following problems EXCEPT
Awọn alaye Idahun
Ibeere 26 Ìròyìn
A development planning which takes a long range view of the economy and covers a period of 10-20 years is regarded as
Awọn alaye Idahun
Ibeere 27 Ìròyìn
To an individual, the term cost will include expenditure on the following EXCEPT
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Ibeere 29 Ìròyìn
Which of the following will NOT be a barrier to international trade?
Awọn alaye Idahun
Ibeere 30 Ìròyìn
The basic economics problem of what to produce arises as a result of
Awọn alaye Idahun
Ibeere 31 Ìròyìn
The following are the main problems of distribution of essential commodities in Nigeria EXCEPT
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Ibeere 32 Ìròyìn
Which of the following is NOT a problem of population census in Nigeria?
Awọn alaye Idahun
Ibeere 35 Ìròyìn
The amount of money required for the day-to-day running of a business is known as
Awọn alaye Idahun
Ibeere 36 Ìròyìn
The desire to hold cash balances in order to meet expenditures which arises due to unforeseen circumstances is
Awọn alaye Idahun
Ibeere 37 Ìròyìn
The main differences between money market and capital market is that money markets
Ibeere 38 Ìròyìn
Individuals who buy new shares in anticipation of reselling at higher prices in the stock exchange market are called
Awọn alaye Idahun
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