Question 1 of 20 49 total questions
The policy of government to increase the supply of money to meet its own expenditure plans is likely to be
A speculative
B deflationary
C inflationary
D contractionary
Which of the following is a legal tender in West Africa?
A Treasury Bill
B Share
C Credit card
D Currency
The equilibrium level of output of a monopolist is determined at a point where
A marginal cost equals average revenue
B marginal cost equals acerage cost
C marginal cost equals marginal revenue
D marginal revenue equals average cost
advertising expenses would not be necessary under perfect competition because
A consumers would have complete knowledge of goods
B cost of production would be at the maximum level
C every firm would enjoy the benefits of large scale production
D income of the consumers in the community would be high
For a monopolist, the average revenue (AR) curve is
A above the total curve
B the same as the marginal cost curve
C above the marginal revenue curve
D the same as that of the perfect competitor
which of the following is not a reason for establishing public enterprises?
A discouraging investors
B opening up neglected parts of the country
C effective control of a natural monopoly
D rapid economic development
buying and selling of shares is a function performed mostly by the
A insurance companies
B stock exchanges
C merchant banks
D discount houses
The total amount of money raised by a company through issuance of shares to the public is
A debentures
B nominal capital
C ordinary shares
D paid-up capital
The main difference between a private and a public enterprises is the
A amount of profit realized
B mode of operation
C objective of the business
D ownership structure
A debenture holder is entitled to payment in the form of
A allowance
B interest
C salary
D donation
The mechanism which allows the price of a commodity to be fixed either above or below the equilibrium is known as
A monopolistic competition
B price discrimination
C perfect competitive market
D price control
the market price of a commodity is normally determined by the
A law of demand
B interaction of the force of demand and supply
C total number of people in the market
D total quantity of the commodity in the market
when the quantity of a commodity supplied increases and the quantity demanded decreases , there will be
A a rise in price
B no change in price
C price fluctuation
D a fall in price
In the normal market situation , when the price of a commodity rises the
A demand for the commodity will rise
B demand for the commodity will fall
C supply of the commodity will be constant
D supply of the commodity will fall
In the analysis of utility theory, the basis of demand is
A marginal utility
B average utility
C fixed utility
D diminishing utility
what are inferior goods? These are goods
A that are generally in short supply
B that are no longer in demand
C whose demand falls as income increase
D whose price falls as demand increases
The amount of satisfaction obtained from the consumption of a commodity at a particular time is called
A marginal utility
B diminishing return
C total utility
D average utility
Standardization of products or services is a feature of
A large firms
B retailer
C small firms
D wholesaler
one of the factors affecting geographical distribution of population is
A high birth rate
B high death rate
C encouragement of early marriage in the rural area
D climate conditions of the different parts of the country
middlemen in an economy perform the function of
A distribution
B exchange
C Hoarding
D protector
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