Question 1 of 20 4,545 total questions
Which of the following is a measure of central tendency
A Percentage
B graph
C variance
D Median
A collective data which has not been processed is referred to as
A disjointed data
B raw data
C class intervals
D frequency
The entire satisfaction that a consumer derived from a successive consumption of a particular commodity is known as
A marginal utility
B total utility
C average utility
D diminishing utility
Basic extractive activities are classified as
A manufacturing production
B tertiary production
C secondary production
D primary production
economy problems arises mainly as a result of
A inaccurate statistical data in West Africa
B excessive wastage of available resources
C lack of foresight on the part of resource users
D limitation in the availability of resouces
Scarcity implies that
A goods cannot be produced efficiently
B human wants are unlimited
C goods and services are limited in supply
D commodities are evenly distributed within the economy
The firm whose sales and total revenue of the commodity as given in the table is
A a monopolist
B a monopolistic competitor
C an oligopolist
D a perfect competitor
How many student took the examination?
If the pass mark was 40. how many students passed the examination?
In a price-taking firm, the portion UT above is the firm's
A average revenue curve
B Long-run average cost curve
C demand curve
D supply curve
The marginal product X is
The average product Y is
In the diagram L1 L1 and L2 L2 are budget lines. 11 12 and 1 3 are indifference curves. which points are optimal?
A U and W
B V and W
C U and Z
D Y and Z
Commodities I and II are
A competitive supply
B Substitute supply
C Joint supply
D Derived supply
The supply of commodity II increasing from S 1 S 1 to S 2 S 2
A Moves the price below OP 2
B Leads to a fall in price from OP 1 to OP 2
C Increases the price from OP 2 to OP 1
D Moves the price to OP 1
Being a member of the OPEC, Nigeria is in a favorable position to?
A export her crude oil
B control world crude oil prices
C reap the benefit of a cartel
D borrow money from members
If the United Kingdom buys gold for $60 an ounce and Nigeria buys the same ounce for N500, what will be United Kingdom's exchange rate with Nigeria?
A $0.05 = N1.00
B $0.06 =N1.00
C $0.11 =N1.00
D $0.12 =N1.00
A country's import price index by 1995 was 50 and her index of export price was 70. Calculate the terms of trade?
A country exporting mainly primary products and with a high percentage of her labour force in agriculture is said to be?
A developing
B developed
C poor
D underdeveloped
Public debt is composed of?
A internal debts and World Bank loans
B money owed to local and foreign contractors
C internal and external debts
D loans granted by IMF and ADB
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