Question 1 of 20 4,545 total questions
The money paid per hour or week for work done is known as
A cost
B time rate
C bonus
D wage rate
E labour
which of the following is not correct?
A Population refers to number of people living in a place
B The population of a place is not static
C Population is known through a census
D Population is affected by the amount of money in circulation
E Population can be affected by natural disaster
a person who buys in bulk and sells in bit is a
A manufacturer
B sales representative
C retailer
D advertiser
E distributor
the movement of a worker from one grade to another within the same industry is a form of mobility of labour which is
A geographical
B vertical
C occupational
D horizontal
E lateral
Which of the following is the normal channel by which the commodities reach the final consumer?
A Mnaufacturer-wholesale-agent retailer-consumer
B Mnufacturer-wholesale-retailer-consumer
C Manufacturer-wholesale-sales representative-retailer-consumer
D Mnufacturer-wholesale-retailer-agent-consumer
E Mnaufacturer-wholesale-retailer-sales-representative-consumer
one of the argument against he presence of middlemen in the distribution chain is that they
A cause increase in the price of commodities
B are commissioned agents
C helps in keeping price stable
D grade and blend goods
E can be found almost everywhere
which of the following categories of people do not gain during inflation?
A Debtors
B businessmen
C Shareholders
D Investors
E Creditors
which of the following does not hinder the efficient of distribution of goods in West Africa?
A inadequate transportation network
B inadequate storage facilities for agricultural goodss
C inadequate credit facitlities for potential distributors
D Government participation in the distributive trade
E The tendency to hoard and smuggle
One of the advantages of Sole Proprietor is that
A risks are unlimited
B technological progress is often out of reach
C shares and stocks can be issued to raise funds
D initiatives can be used in all cases
E it folds up in the case of death, lunacy or insolvency
The clearing house of all commercial banks in Nigeria is the
A General Post Office
B Bnak forCommerce and Industry
C Nigerian Industrial Development Bank
D Mortgage Bank
E Central Bnak
which of the following factor is not important in deciding the location of an industry?
A the native language of the epople
B availabilty of suitable labour
C Source of cheap power and raw materials
D Proximity to the location of a similar industry
E proximity to the market
A firm is said to be a Public Joint-Stock Company when it
A is owned by the government
B operates as a public corporation
C is a limited liability company
D sells its shares to memebers of the public
E is administered by the public
which of the following reasons explains the upward sloping of supply curve in a competitive market?
A Ceteris paribus, marginal cost increase as output increases
B As new firms enter the market, factor price moves up
C Firms are in business to satisfy consumers
D Marginal cost often increases in a competitive market
E Firms are in business to produce goods
Which of the following is regarded as fixed cost?
A cost of raw material
B cost of fuel
C cost of light
D rent on land
E labour wages
Given that fixed cost is N500.00, variable cost N1,500.00 and output is 50 units, what will be the average cost of producing one unit?
A N2,000.00
B N60.00
C N50.00
D N40.00
E N30.00
Mobility of labour is not affected by
A the optimum size of population
B marriage and family
C the regulation of trade unions
D the period of training
E culture and religious beliefs
the indicator of the value of money in the market is the
A the general price level
B effective supply
C the equilibrium price
D effective demand
E consumer income
What is the correct term for this group of exports : tractor, televisions, components, drugs and cars?
A Current account items
B Visible exports
C Capital accoutn items
D Invisible exports
E Visible imports
Which of the following is not appropriate in calculating national income figures?
A output method
B Income method
C Expenditure method
D Value added method
E Depreciation method
which of the following is not a function of money?
A store of values
B unit of accounts
C measures of value
D standard for deferred payment
E stability in value
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