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The following are type of business organization EXCEPT
Aco-operative society
BEntrepreneurship
Cpartnership
Dpublic corporation
ESole proprietorship
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Question 122
neco2002
Tc/Q =
Amarginal cost
BAverage coat
Ctotal cost
Dequilibrium level
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Question 123
neco2002
Which of the following measure will NOT serves as a control during inflation period?
Aincrease in personal income tax
Bincrease in bank rate and interest
Cincrease in government capital expenditure
Dreduction in money supply
Ereduction in government recurrent expenditure
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Question 124
neco2002
Government expenditure on universal basic education and subsidy on agriculture are aimed at
Aencouraging growth of the economy
Bprojecting images of government
Cre-allocation of resources
Dredistribution of income and wealth
Estabilization of the economy
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Question 125
neco2002
A producer who can only influence the price of his product but canNOT determine the quantity to be sold is referred to as
Aduopoly
Bmonopolist
Cmonopsonist
Doligopoly
Eperfect competitor
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Question 126
neco2002
The formular used by the Expenditure approach to calculate National income is
AY=C + I + X - M –G
BY= C + X – M – I + G
CY = C + I + G + X – M
DY = C – I + X – M + G
EY = C + G – X + M – I
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Question 127
neco2002
To discourage the consumption of harmful commodities, government should tax such commodities if they have
Aelastic demand
Binelastic demand
Cnegative demand
Dpositive demand
Eunitary demand
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Question 128
neco2002
Long-run in economic mean a period of time in which
Aall factor inputs are not being used
Ball factor inputs are variable
Call factor inputs are fixed
Donly few factor inputs are variable
Efirms are not producing at all
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Question 129
neco2002
When combination of two goods which a consumer derive equal satisfaction is plotted on a graph, the graph is known as
Ademand curve
Bindifference curve
Copportunity curve
Dutility curve
Esupply curve
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Question 130
neco2002
If the prices of a commodity increases from N8.00 to N10.00 and the demand decreases from 100 to 80 respectively, what is the price elasticity of demand for the commodity?
A0.5
B0.8
C1
D1.5
E1.8
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Question 131
neco2002
Which of the following is NOT a feature of capitalism ?
Adetailed economics planning
BFree enterprise
Ccompetition
Dprivate ownership of property
EEntrepreneurs and the pursuit of profit
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Question 132
neco2002
Remuneration of labour based on number of hours worked is known as
Afees
Bcommission
Ctime-rates
Dsalary
Ewages
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Question 133
neco2002
When an economy is having a balance of payment surplus the best alternative opened to it is to
Aborrow from abroad
Bdevalue its currency
Cincrease its foreign reserve
Dpromote imports into the country
Esell out its foreign assets
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Question 134
neco2002
Which of the following is NOT a factor that brings about changes in demand?
Aa change in real income
Bgovernment policy
Cincrease in population
Dthe price of the good or service
Etaste and fashion
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Question 135
neco2002
The willingness of an individual backed up with purchasing power at a given time is
Ademand
Bdesire
Ceffective demand
Dutility
Ewant
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Question 136
neco2002
Which of the following factors will NOT account for an outward shift of production possibility curve?
Abudgeting and planning based on expectations
Bexpansion in employment
Cdiscovering and exploration of new resources
Dintroduction of improved production techniques
Eskill improvement through education and training
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Question 137
neco2002
If commodities A & B are jointly demanded, what will be the effect of an increase in the price of A on the demand for commodity B?
Adecrease in demand for commodity B
Bdecrease in price of commodity B
Cdemand for commodity B remain constant
Dincrease in demand for commodity B
Eincrease in the price of commodity B
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Question 138
neco2002
The middle value of an array figure arranged in descending order is referred to as the
Aequation
Bmean
CMedian
Dmode
EVariance
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Question 139
neco2002
What is the median term in the distribution below ;14, 13 29 ,15 ,13,17 ,12,
A12
B13
C14
D15
E29
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Question 140
neco2002
The comparison of the standard of living between Nigeria and Ghana is best down through the use of
