The economic system in which resource are privately owned dis known as
3
Quasi-rent refers to
4
Reward for entrepreneurship is
5
Which of the following is the function of an entrepreneur?
6
The difference between the highest and lowest in a set of data is
7
In which of the following economic system is the consumer referred to as the king?
8
The dispersal of people in a country is called
9
In a country with ageing population , the total population
10
Population growth can be controlled by all the following except
11
Performance of one task in a production process is known as
12
The cost incurred by using both fixed and variable factors in production is called
13
Consumer buy more of a commodity at a lower price than at a higher price because
14
The demand for a commodity not directly for immediate consumption but for the production of another commodity is
15
Which of the following is a luxury item?
16
If the quantity demanded of a particular commodity is represented by the function Qd = 30 - 2p, what is the quantity demanded at a price of twelve Naira?
17
The responsiveness of demand to a change in income is the measurement of
18
The upward slope of the supply curve indicates that
19
monocultural agriculture means
20
Industries are not sited in most rural areas of Nigeria because ?
21
Which of the following business units can issue shares?
22
When the government initiates measures to make an organization in which it has substantial interest more profit oriented, such a business is described as being
23
which of the following is not a trade union in Nigeria?
24
The monopolist power can be controlled by the government through
25
Which of the following is not a condition for a perfect market?
26
The reward for a shareholdership of a company is
27
In a public corporation , the risks of business are borne by the
28
One of the function of money is
29
Money is demanded for which of the following reasons?
30
The quantity theory of money states that a reduction in the quantity of money in circulation would bring about
31
which of the following is the most liquid asset?
32
The situation in which there is persistent fall in the general price level is referred to as
33
commercial banks settle their daily interbank indebtedness through the
34
One disadvantage of inflation is that?
35
Short-term loans can be sourced from
36
if there is an increase in wages and salaries without corresponding increase in the supply of goods and services, the situation will lead to
37
public expenditure can be financed from all the following sources except the
38
which of the following is a direct tax
39
Tax evasion means
40
A greater burden of tax on a product with high price elasticity of demand rests mainly on the
41
An ad volarem tax refers to a tax
42
Which of the following is associated with the development of petroleum industry in Nigeria?
43
Balance of payment deficit can be corrected by
44
The exchange of goods and services across countries can be described as
45
Which of the following is a major barrier to international trade?
46
A country is economically rich if
47
The main role of the Organization of Petroleum Exporting Countries (OPEC) is
