Economics — 2010

The following are examples of economic goods except

A tent-making factory offers

In which of the following economic system do we have mostly private ownership of resources and individual decision making?

The sum of items divided by the number of items is the

Find the median of the following set of scores 8,9,6,5,10

Which of the following causes the demand curve to shift to the right?

Goods for which demands rises as income rises are

The slope of a supply curve is

Equilibrium price is the price at which quantity

A decrease in supply with demand remaining unchanged will cause the equilibrium price for a good to

At the highest level of total utility, marginal utility is

The law of diminishing marginal utility state that, the more a commodity is consumed the

Greater inter-dependence among workers in production is associated with

If TC, FC and VC represent total cost, fixed cost and variable cost respectively, which of the following is correct?

The reward to land as a factor of production is

A firm is said to be a public joint stock company when it

All the following are source of finance to a joint stock company except

The public sector of an economy includes

One advantage of the Sole Proprietorship over other forms of business organization is that it can

Which of the following is obtainable in a perfect market?

The wholesaler performs the following function except

A country whose population size is too small relative to its resource is

An efficient weapon used in resolving dispute between employers and employees is

Which of the following does not explain why a school principal earns more salary than a school messenger?

The role of government in promoting agricultural development includes the following except

The following are advantages of large scale agriculture except

The following are all factors determining the location of industry except

Which of the following is not a concept in National Income Accounting?

Which of the following equation is appropriate for determining the Net Domestic Product (NDP)?

Which of the following over estimates the value of national income?

The total stock of money available for use in an economy is

Which of the following is not a reason for holding money?

The best way of combating demand-pull inflation is to

In which of the following ways has inflation adversely affected your country’s economy?

Which of the following is a legal tender?

The Central Bank controls money supply through all the following except

One of the functions of the Central Bank is

The function of the Central Bank as the lender of last resort means that when all other sources fail,

One disadvantages of direct taxes is that they

Excise duty is levied on

A component of the national debt of a country is

When the demand for a good is fairly inelastic, the burden of an indirect tax falls

Dumping means the selling of a good in a foreign market at a price that is

Which of the following group of accounts make up the balance of payments?

A country's balance of payment is deficit when

In order to stabilize oil price in the world market, there is the need for OPEC members to

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

Which of the following is not an international economic organization?