Economics — 1999

The money payment made to owners of land and labour are

The price elasticity of coefficient indicates

every society strive to pursue all the following economic objectives except

which of the following best describes capital as a factor of production?

The system whereby goods are exchanged for goods is known as

The graph of the function X = a + bY is

Productivity , per worker, is best measured by

In determining cost economics considers

The precautionary motive for holding money is to enable the holder to

In long run, all factors inputs are

The benefits that result from concentrating similar firms in an area is referred to as

Per capita income in any West African country is measured by

A priority rating of aggregate individuals wants is called

Profits can be calculated by

The marginal revenue curve of a monopolist is

when all factor inputs are doubled , the production possibly curve will

income elasticity of demand is measurement of the responsiveness of

The establishment of industries in rural areas will help to reduce

Government imposes taxes mainly to

In a perfect market price and quantity to be bought are determined by the

When price elasticity of supply is equal to 0.4, supply is said to be

In the money market , money can only be borrowed for

Deflation can be controlled by increase in

Mortgage banks give loan to investors on long term basis to

The situation where by a government spends more than its budgets for a fiscal year is known as

In a socialist economy, factors of production are owned and controlled by the

One quality of money which makes it possible to be carried easily is its

A form of tax in which the poor pay a higher rate than the rich is known as

The reduction in the value of a country's currency of other nations is known as

The creation of utility can be referred to as

Government revenue will increase if tax is imposed on a good whose demand is

Occupational distribution of population is mainly influenced by

proportional tax refers to

which of the following is not n item of capital expenditure?

The population which yields the highest level of income per head is known as

Price discrimination can only occur when there is

Commodity market can best be described as a market in which

Provision of services is classified under

In ordinary partnership, the risks are

balance of trade is define as the relationship between

which of the following combination of qualities ensures a good tax system?

The quantity demanded of a commodity is influenced only by changes

which of the following is an indirect tax

When a pen and a book is demanded together, the demand is said to be

The reward for capital is

Infant industries are industries that

The most common form of business enterprise in West Africa is the

in order to boost agriculture, West African countries should pay more attention to

Gross National Product (GNP) less depreciation is known as

West African economy can best be described as