The definition of economics as 'the science which studies human behaviuor as a relationship between ends and scarce means which have alternative uses' was given by
2
The concept of economics efficiency primarily implies
3
Which of the following is true of NEPA as a public corporation in Nigeria? It is
4
a situation of full employment exist when
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which of the following function of money makes it possible for any person to provide for old age?
6
The primary objective of Agricultural Credit Guarantee Scheme is the provision of
7
which of the following is not an advantage of localization of industries ?
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Which of the following is not an advantage of government ownership of enterprises?
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if the foreign exchange rate is N80 to £1, then a bicycle bought for £40 will cost
10
The central banks controls commercial banks through all the following measures except
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If a person supplements his current income by drawing on past savings in order to make both ends meet, he is said to be living
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Which of the following is not a set of measures of central tendency?
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Which of the following pairs can be referred to as middlemen?
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Mono-products economics are those that
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A Nigerian household demand curve for semovita is downward sloping because
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To the economist a stock of goods existing at a a particular time and conforming to certain requirements such as having utility, money value and being limited in supply , is known as
17
The decision to consume more of one product swill under normal circumstances imply that
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The difference between the Gross Domestic Product (GDP) and the Gross National Product (GNP) is the
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one of the function of a commercial bank is that it
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which of the following is not a problem of distribution of goods in Nigeria?
21
Mr Idowu needs a television and a refrigerator. Each cost N500.00, the exact amount he has . If Mr. Idowu buys the television , the refrigerator would be regarded as the
22
Petro-chemicals industries are located in River State of Nigeria due to the presence of
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Foreign exchange control in Nigeria is enforced by the
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The difference between the number of immigrants and emigrants is
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Risk bearing and managerial control are the main function of the
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If successive unit of labour are added to a piece of land while capital and technology remains constant, a point will be reached in the level of production when each additional unit of labour will add less to the output than previous units. This concept is known as
27
When a firm's total revenue is at the maximum , marginal revenue is
28
Under normal circumstances, a producer will bear the entire burden of taxation on his output if the
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Limited liability means that
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Factory buildings, machinery and raw materials are known in Economics as
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Abstention from consumption enables capital to be produced . Such abstention is called
32
Tax evasion in Economics means
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The magnitude of the national income of a country depends on all the following except the
34
The Quantity Theory of Money state that an increase in the quantity of money would bring about
35
Under the ECOWAS agreement, a Nigerian can enter and stay in Ghana without a visa for a period of
