Economics — 2000

Scarcity implies that

economy problems arises mainly as a result of

Basic extractive activities are classified as

The entire satisfaction that a consumer derived from a successive consumption of a particular commodity is known as

A collective data which has not been processed is referred to as

Which of the following is a measure of central tendency

The quantity supplied of a book per week is represented by the function: Qs + 70 + 1/2 P, At a price of N8.00, the quantity supplied is

In production , the formula total product/number of men employed is used to calculate

One of the internal economies of large scale production is

Dividing total variable cost by quantity of output gives

Public enterprises are established mainly to

One important feature of sole proprietorship is that

The maximum amount of money a company is allowed to raise by issuing shares to the public is called

The consumers co-operative society is owned by

which of the following is a function of the retailer?

The supply of labour can be influenced by the

Majority of West African labour force is engaged in

census of population is usually conducted every

one economic implication of over-population is that it

Hassan , an economic teacher in Lagos, resigned his appointment and took yup another job as a banker . The The concept here involves

Net migration is the difference between

Wages are to some extent, determined by the

The movement along the same curve is a

An industry can best be described as

An association of workers in a particular industry, firm or line of job is called

Average Variable Cost (AVC) curve

The income elasticity of a normal goods is

The demand for a commodity that serves two or more purposes is

The charging of different prices to different group of buyers for the same goods or services is called

A tax on a commodity whose demand is perfectly inelastic will fall heavily on the

The main feature of regressive taxation is that its rate

Which of the following is an item of government recurrent expenditure?

Which of the following is an item of government recurrent expenditure?

Deficit budget means that government’s

The most unique quality of money is its

Abstention from consumption which enables capital to be produced is called

Which of the following will occur when the market is unstable?

Shares and stocks can be bought in the

Inflation can best be checked by

foreign exchange control in most West African countries is is enforced by the

Commercial banks settle their inter-bank indebtedness through

which of the following banks grant credit facilities to individuals wishing to build houses?

Unemployment that arises because of introduction of new machines and equipment in production is called

Mono-product economies are those that produce

The primary objectives of the Nigerian Industrial Development Banks(NIDB) is the provision of loans to

Small enterprises finds it difficult to expand due to

The Organization of Petroleum Exporting Countries (OPEC) is a

One major export crop in West Africa is

Balance of payment deficit implies that a country is

West African countries have low level of economic development due to

Which of the following countries is not a member of the Economic Community of West African States (ECOWAS)?