Question 1 of 20 46 total questions
Which of the following is a condition necessary
A Few sellers and buyers
B Free entry and exist
C Homogeneous goods
D Lack of preferential treatment
E Many callers and buyers
The solution to problem of how to produce in a capitalist economy is solved by
A combining aid labour means of production
B the producers involves
C using capital Intensive method of production
D using labour intensive method of production
E using the method of production with the least cost
Branding and packaging of goods Is the function of
A brokers
B consumers
C manufactures
D retailers
E wholesalers
Which of the following is NOT a contribution of agriculture to industrial development?
A provision of food for the industrial sector
B Provision of funds for industrial development
C Provision of raw materials
D Supply of labour to the industrial sector
E supply of machinery to the industrial sector
The creation of physical and concrete goods that can be seen and handled Is
A diminishing returns
B division of labour
C Industrialization
D production
E specialization
The following measures used to check deflation EXCEPT
A deficit financing
B improving distribution system
C increasing wages and salaries
D raising the bank rate
E reducing taxation
A deliberate government policy to exclude foreign participation in certain economic activity is known as
A commercialization
B indigenization
C liberalization
D localization
E privatization
The following methods are used in calculation of National Income EXCEPT
A depreciation
B Expenditure
C Income
D Output
E value added
which of the following measures can be used to control inflation?
A decrease in bank rate
B Decrease in taxation
C deficit budget
D Export drive
E Increase in government expenditure
Which of the following is a disadvantage of sole proprietorship?
A Does not enjoy limited liability
B Decisions are easily made and implemented
C Easy to set up
D Enjoys secrecy
E Maintains dose relationship with workers and customers
If total Income is N15m and total consumption Is N3m. then the average propensity to consume is
A change in National Income brought about by a given change in investment Is
A APC
B APS
C MPC
D MPS
E The multiplier
Which of these is NOT a bottle neck In the distribution of goods In Nigeria?
A Adequate transportation network
B Inadequate credit facilities
C Inadequate storage facilities
D poor processing and packaging
E Unnecessary hoarding
Agricultural production in Nigeria could be improved through
A control of plant diseases
B Land Fragmentation
C Payment of excise duty
D the introduction of low yielding crops
E the use of traditional implements
The difference between bar charts and histograms is that the former
A are difference between bars adjoined to each other while the latter are separate bars divided Into sections
B are line graphs while the latter are rectangular bars
C are separate bars divided Into sections while the latter are line graphs
D has bars adjoined to each other while the latter has separate bars
E has bars separate from each other while the latter has bars adjoined to each other
The following are advantages of standard deviation EXCEPT that it
A has greater practical utility In sampling
B is a good measure of dispersion since all the values are used in its calculation
C is important and useful in the analysis of T- Test
D is not a sound mathematical index
E is the most popular measure of dispersion in distribution
Find the arithmetic mean of the following set of scores 12, 4, 2, 8, and 14
In a solo proprietorship, decisions are made by the
A board of directors
B government
C management
D owner
E shareholders
The difference between Gross National Income and Gross Domestic Product is known as
A capital consumption
B debt repayments
C Investment abroad
D net income from abroad
E net saving
At the point where total utility begins to decline MU is
A constant
B decreasing
C increasing
D negative
E zero
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