Question 1 of 20 91 total questions
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
Data presented in table are usually arranged in
A charts and tables
B rows and columns
C graphs and rows
D pictograms and columns
E maps and pie charts
all the following are source of finance to a Joint Stock Company except
A bank loans
B equity shares
C debentures
D preference shares
E cooperative thrift
money supply at any given point in time refers to as
A bank notes, coins abd demand deposits
B notes and coins only
C minted money
D hoarded money
E money received as gifts
In Economics market is define as
A A place where buyers and sellers come together to exchange goods
B Any agreement made for consumers to buy all they need
C any arrangement made for producers to sell all their goods
D any arrangement where by buyers and sellers are in close touch with one another
E a place where only consumer goods are sold
An inflation in which the price rises steadily at an average rate of about 2% per annum is best described ad
A Galloping
B Induced
C Creeping
D Suppressed
E Run-away
The greatest disadvantages f barter system is the need for
A Durability
B Divisibility
C Homogeneity
D Double coincidence of wants
E Portability
A table which shows the price of a commodity and the quantity of it that is demanded per unit time is a
A Time series
B Demand series
C Demand curve
D Demand schedule
E Time schedule
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