one way of solving the problem of scarcity that faces the individuals is for
3
At what price will a trader be ready to sell 6 oranges using the equilibrium below. p = 1/2 q + 2. where p is price and q is quantity?
4
If the last Naira spent on each commodity by a consumer gave him equal satisfaction , it means the consumer has been able to
5
which of the following will shift the demand curve for Milo to the right?
6
An ? exceptional demand is one in which
7
The equilibrium price of mangoes is N1.00. If the price fall to 50k, there will be
8
The introduction of division of labour in a firm will lead to?
9
Total cost is the addition of
10
Total cost is the addition of
11
external economies refer to the
12
To the economist, efficiency of resource use means
13
The shape of the average cost (AC) shows that as production increases
14
one of the advantages of localization of industry is that firms
15
which of the following is not a type of industry?
16
In a joint-stock company the shareholders are the
17
The distribution of goods by the price system is distorted when
18
An appropriate industrialization strategy in an under-populated country is
19
The power of trade union may be weakened when there is
20
Malthus' contention is that
21
The problem of small markets in West Africa can be solved through
22
An imperfect competitor is in equilibrium when
23
Which of the following is used to measure inflation?
24
If a government which owned a company N10,000 in 1966 paid the debt fully in 1985 when the value of money has depreciated by 20 Percent, such a government had
25
Banks create money by
26
The West African house was established to
27
which of the following is a factor affecting the size of national income?
28
The expenditure of a firm on goods and services for the expansion of its productive capacity is known as
29
An increase in marginal propensity to save will lead to
30
progressive system of taxation implies that the
31
development plans in Nigeria have deviated from their targets due to
32
The level of economic development is low in Nigeria because
33
The stability of Nigerian economy depends mainly on the export price of
34
Which of the following countries is a major trading partner of Nigeria?
35
The instrument used in many countries to restrict imports includes
36
The economic system in which the decision s about what to produce , how to produce and for whom to produce are made by private firms is called
