Question 1 of 20 4,545 total questions
Insurance companies, pension and provident funds and unit trusts are all examples of
A rural-based revenue mobilizers
B non-governmental organisations
C government financial agencies
D non-bank financial institutions
For a firm, value added can be defined as the difference between the
A input prices and product prices
B value of its output and inputs purchased from other firms
C value of its output and the cost of production
D total revenue and total cost
The distinguishing characteristic between the money market and the capital market lies in whether the
A securities are primary or secondary
B debt instruments provided are long-term or short-term
C funds mobilized are private or public
D securities are in debentures or ordinary shares
The term 'Near money' is best described as
A a financial instrument that is readily convertible to cash
B government financial instrument that is convertible to cash
C time deposits with low interest rates
D a financial asset that is convertible to cash
Imperfect market is characterized by
A perfect mobility of factors of production
B many buyers and few sellers
C a large number of buyers and sellers
D non-preferential treatment
The long-run average cost curve is called a planning curve because it shows what happens to costs when
A a bigger size of plant is built
B differents sizes of plants are built
C variable inputs are increased
D fixed factors are increased
Price elasticity of supply is a ratio of the change in
A original quantity to a change in new quantity
B quantity supplied to the change in price
C price to the change in quantity supplied
D quantity supplied to the change in demand
Short-run period in production is a period too short for a firm to be able to change its
A scale of operation
B total revenue
C total outputs
D variable inputs
A normal supply curve is usually positively sloped because the relationship between
A price and supply is positive
B demand and price is positive
C supply and price is negative
D price and demand is negative
If the demand curve facing a firm is sharply downward-sloping, the firm is likely to be
A a monopolistic competitor as it can have a limited influence on price
B a monopolist as it can have a great influence on price
C a perfect competitor as it cannot influence the market price
D an oligopolist as it can collude with other firms to have some influence on price
\(\begin{array}{c|c} \text{Out put produced per day (Units)} & \text{Fixed cost per day (N)} & \text{Total cost per day (N)} \\ \hline 20 & 60 & 100 \\ \hline 30 & 60 & 120 \\ \hline 40 & 60 & 130 \\ \hline 50 & 60 & 135 \\ \hline 60 & 60 & 150 \\ \hline 70 & 60 & 170 \\ \hline 80 & 60 & 190\end{array}\)
A ₦3.00
B ₦4.00
C ₦60.00
D ₦120.00
In a planned economy, the emphasis is on
A public ownership and control
B prices and competition
C individual choices and decisions
D private ownership and control
If there is an increase in demand without a corresponding increase in supply, there will be a
A rise in price
B shift in demand curve to the left
C fall in price
D shift in supply curve to the right
The price of a good rises from N5 to N8 and the quantity demanded falls from 200 to 190 units Over this price range, the demand curve is
A perfectly inelastic
B fairly inelastic
C perfectly elastic
D fairly elastic
Utility is the satisfaction derived from?
A demand
B production
C distribution
D consumption
In economic analysis, a statement is said to be normative if it?
A relates to value judgement
B is incorrect
C can be tested scientifically
D is contradictory
For an inferior good, a decreased in real income will lead to?
A a lower equilibrium price
B a change in quantity demanded
C an outward shift of the demand curve
D an inward shift of the demand curve
When two variables are positively related, the graph of the relationship?
A is a downward-sloping curve
B has a negative intercept
C is a straight line
D is an upward-sloping curve
The main function of retailer in the distribution channel is
A advertising the product on behalf of manufacturers
B bulk breaking
C branding and packaging of good
D direct customer services
E storage facilities for finished products
The 1962-1968 development plan in nigerian failed because of
A absence of indigenous bank
B higher exchange rate
C non availability of finance house
D movement of colonial masters
E over dependency on foreign capital
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