Which question paper type of Economic is given to you?
The choice of how to produce in a command economy is determined by
In capitalist economies, questions about what to produce are ultimately answered by
The best measure of dispersion to determine the tallest tree in a forest is
What is the percentage contribution of services to the national income?
If the national income is 360m, the contribution of the manufacturing sector is
combination of factors responsible for a shift from D0D0to D1D1 are
Given that Qd = 40-2P and Qs = 6P+24. Calculate the equilibrium price
A change in demand for a normal goods implies that, there is a
From the graph above, the consumer will attain equilibrium at point
A rightward shift of the budget line is caused by a
1 out of 6
Given the supply function P = (Qs+10) when P = N10, what is Qs?
From the table above, Calculate the price elasticity of supply
When price is set below equilibrium, this will lead to
Price mechanism determines the prices of commodities through
From the table above, find the values of E and F respectively
If the production of a large firm is higher than that of a small firm, it is experiencing.
Division of labour requires that, the tasks in a production line be performed
Given that FC = ₦500, VC = ₦1,500, and Q = 50 units. Find the average cost of the product.
2 out of 6
Rent and administrative expenses are examples of
A perfect competitor will continue to expand output up to the point where
One of the characteristics of a monopolist is that, he can influence
A monopolist can boost up his revenue by
Which of the following can be used to measure the Gross National product in an open economy?
The labour force of a country is determined by the
The major determinant of the total volume of output in an economy is the
The main objective of WTO is to
3 out of 6
If the importation of a commodity is limited to a definite quantity, the trade control measure imposed is
A major determinant of floating exchange rate is
An accurate population census is important in other to
An accurate census figure is an important tool for planners in
The voting power in co-operative societies is vested on
4 out of 6
Firms embark on vertical integration in other to
The short-run average variable cost of a firm will rise owing to
The loading of crude oil at the terminal is an activity in the
The major contribution of OPEC to the Nigerian economy is the
One major factor that determines the location of an industry is
A major disadvantage of localization of industry is
An advantage of large-scale farming over peasant farming is in the area of
An important role of agriculture in Nigeria's economic development is the
A major feature of an underdeveloped economy is
5 out of 6
A major obstacle to the development of Nigeria economy is
A major obstacle to the development of Nigeria economy is
Wage freeze is a policy measure aimed at
Given a base year and the price index of 175% the following year, which of the following year will arise?
Short-term loans for investment are usually obtained through the
One of the challenges facing the banking industry in Nigeria is
An inflation that co-exists with high rate of unemployment is
6 out of 6