The economic system in which resource are privately owned dis known as
پاسخ دهید
(A)
Capitalism
3
Quasi-rent refers to
پاسخ دهید
(D)
payments made on any factors of production that is temporaly fixed in supply
4
Reward for entrepreneurship is
پاسخ دهید
(D)
profit
5
Which of the following is the function of an entrepreneur?
پاسخ دهید
(B)
decision making
6
The difference between the highest and lowest in a set of data is
پاسخ دهید
(A)
range
7
In which of the following economic system is the consumer referred to as the king?
پاسخ دهید
(A)
Capitalist economy
8
The dispersal of people in a country is called
پاسخ دهید
(B)
geographical distribution
9
In a country with ageing population , the total population
پاسخ دهید
(C)
is increasing at a low rate
10
Population growth can be controlled by all the following except
پاسخ دهید
(B)
incentives on immigration
11
Performance of one task in a production process is known as
پاسخ دهید
(A)
specialization
12
The cost incurred by using both fixed and variable factors in production is called
پاسخ دهید
(C)
total cost
13
Consumer buy more of a commodity at a lower price than at a higher price because
پاسخ دهید
(D)
with the same amount of money they will be able to buy more
14
The demand for a commodity not directly for immediate consumption but for the production of another commodity is
پاسخ دهید
(B)
derived demand
15
Which of the following is a luxury item?
پاسخ دهید
(D)
Gold
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?
پاسخ دهید
(A)
6 units
17
The responsiveness of demand to a change in income is the measurement of
پاسخ دهید
(C)
income elasticity of demand
18
The upward slope of the supply curve indicates that
پاسخ دهید
(A)
more will be supplied as price rises
19
monocultural agriculture means
پاسخ دهید
(B)
the cultivation of one major crop
20
Industries are not sited in most rural areas of Nigeria because ?
پاسخ دهید
(A)
of inadequate basic infrastructure
21
Which of the following business units can issue shares?
پاسخ دهید
(B)
private limited companies
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
پاسخ دهید
(D)
commercialized
23
which of the following is not a trade union in Nigeria?
پاسخ دهید
(C)
Nigerian Ecoonomic Society
24
The monopolist power can be controlled by the government through
پاسخ دهید
(B)
price legislation
25
Which of the following is not a condition for a perfect market?
پاسخ دهید
(B)
ignorance of consumers
26
The reward for a shareholdership of a company is
پاسخ دهید
(C)
dividends
27
In a public corporation , the risks of business are borne by the
پاسخ دهید
(B)
tax payers
28
One of the function of money is
پاسخ دهید
(B)
unit of accounts
29
Money is demanded for which of the following reasons?
پاسخ دهید
(A)
to meet unforseen contigencies
30
The quantity theory of money states that a reduction in the quantity of money in circulation would bring about
پاسخ دهید
(B)
a proportionate fall in prices
31
which of the following is the most liquid asset?
پاسخ دهید
(C)
Bank deposit
32
The situation in which there is persistent fall in the general price level is referred to as
پاسخ دهید
(C)
deflation
33
commercial banks settle their daily interbank indebtedness through the
پاسخ دهید
(D)
Clearing House
34
One disadvantage of inflation is that?
پاسخ دهید
(B)
fixed income eaners lose
35
Short-term loans can be sourced from
پاسخ دهید
(D)
commercial banks
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
پاسخ دهید
(B)
inflation
37
public expenditure can be financed from all the following sources except the
پاسخ دهید
(D)
mobilization fees
38
which of the following is a direct tax
پاسخ دهید
(C)
capital gain tax
39
Tax evasion means
پاسخ دهید
(C)
making false declaration of taxable income
40
A greater burden of tax on a product with high price elasticity of demand rests mainly on the
پاسخ دهید
(A)
producer
41
An ad volarem tax refers to a tax
پاسخ دهید
(C)
based on the value of the commodity
42
Which of the following is associated with the development of petroleum industry in Nigeria?
پاسخ دهید
(A)
Neglect of agriculture
43
Balance of payment deficit can be corrected by
پاسخ دهید
(C)
export promotion measures
44
The exchange of goods and services across countries can be described as
پاسخ دهید
(B)
multilateral trade
45
Which of the following is a major barrier to international trade?
