Most of the problems of economics arises as a result of
3
which of the following tool of economic analysis is used when data contains more than one category?
4
The reward to capital as a factor of production is
5
mining is an example of
6
An owner-manager of a firm can also be called
7
If the fixed cost of a firm is 800.00 Naira and it's variable cost is 2,700 Naira while it's total output is 100 units, what is the average cost of the firm?
8
Distribution of goods and service is hindered by
9
A movement along the same demand curve either upwards or downwards as a result of change in price implies
10
middlemen in an economy perform the function of
11
one of the factors affecting geographical distribution of population is
12
Standardization of products or services is a feature of
13
The amount of satisfaction obtained from the consumption of a commodity at a particular time is called
14
what are inferior goods? These are goods
15
In the analysis of utility theory, the basis of demand is
16
In the normal market situation , when the price of a commodity rises the
17
when the quantity of a commodity supplied increases and the quantity demanded decreases , there will be
18
the market price of a commodity is normally determined by the
19
The mechanism which allows the price of a commodity to be fixed either above or below the equilibrium is known as
20
A debenture holder is entitled to payment in the form of
21
The main difference between a private and a public enterprises is the
22
The total amount of money raised by a company through issuance of shares to the public is
23
buying and selling of shares is a function performed mostly by the
24
which of the following is not a reason for establishing public enterprises?
25
For a monopolist, the average revenue (AR) curve is
26
advertising expenses would not be necessary under perfect competition because
27
The equilibrium level of output of a monopolist is determined at a point where
28
Which of the following is a legal tender in West Africa?
29
The policy of government to increase the supply of money to meet its own expenditure plans is likely to be
30
The tendency for prices to rise while the value of money fall is known as
31
One way to solve the economic problem of inflation in a country is by increasing the
32
The motive for holding money for investing in securities is referred to as
33
A cheque book is issued to customers of a bank operating a
34
Amount proposed for payment of wages and salaries in a budget is regarded as part of
35
The difference between the Gross National Products (GNP) and the Gross Domestic Product (GDP) is
36
which of the following agricultural system is mainly for the cultivation of food crops for family consumption?
37
Agriculture is important to the economy of West African countries because it is the source of
38
The economic system in which the state takes the economic decision s through detailed planning is
39
A mixed economy combines the characteristics of both
40
In a rapidly growing economy, a change in technology which is labour saving is likely to cause
41
which of the following is a form of tax evasion?
42
where the burden of a tax finally rests is called
43
An increase in the quantity of goods and services produced in a country which raises her national income is known as
44
The formula index of export prices/index of import prices * 100 is used to measure the
45
which of the following is an invisible term?
46
In an attempt to correct a deficit balance of payment, a country may decide to increase
47
which of the following is an objective of economic integration?
48
one of the functions of of the international Monetary Fund (IMF) is to
