Question 1 of 20 272 total questions
Which of the following is a form of business enterprise?
A Cartel
B Entrepreneurship
C Partnership
D Stock exchange
E Supermarket
Taxes levied on locally manufactured goods are called
A custom duties
B excise duties
C purchase tax
D sales tax
E VAT
The price and quantity of crude oil and petrol sold to other countries by Nigeria is fixed by the
A ECOWAS
B IMF
C OPEC
D NNPC
E none
Which of the following hinder(s) effective distribution of goods in Nigeria?
A Branding and packaging of goods
B Good transportation network
C Large quantity of goods
D numerous middlemen
E Warehousing facilities
One of the roles of industrialization in economic development of Nigeria is
A employment generation
B environmental pollution
C target of enemy’s attack
D unemployment
E uneven development
A production possibility curve shows the
A resources used to produce a particular commodity
B possible combinations of two commodities
C rate of inflation
D rate of unemployment in the country
E tabular illustration of production possibilities
In a given set of data, if the variance is 25, what is the standard deviation?
The amount of satisfaction per unit of the commodity consumed is called
A average cost
B average utility
C marginal cost
D marginal utility
E total utility
Plantation farming can best be defined as cultivation of
A crops using hoes and cutlasses for farming
B food crops for personal consumption
C food for use by the family
D large scale farms of cash crops
E livestock for commercial purposes
The equation MV PT is known as
A demand and supply equation
B equilibrium equation
C equation of exchange
D money supply equation
E price index numbers
Goods that are useful, scarce and can command price are called …………. goods.
A capital
B consumer
C economic
D free
E scarce
Which of the following Is NOT a function of Merchant Bank
A Helps public companies to issue new shares
B Provision of medium and long-term loans
C They accept bills of exchange
D They guarantee the buying of shares
E They implement government monetary policies
The Industrial strategy of producing locally those goods that could have been imported is known as
A balance growth
B export promotion
C import substitution
D Industrialization
E urbanization
The African Development Bank was set up in 1964 and has its headquarters in
A Burkina Faso
B Ivory Coast
C Liberia
D Niger Republic
E Senegal
A comprehensive statement of Income and expenditure on international accounts for one financial year is called
A balance of payments
B balance of trade
C budget
D Index of trade
E terms of trade
A tax system in which the income earner pays a fixed percentage of his income annually is known as …………. tax.
A direct
B indirect
C progressive
D proportional
E regressive
The following countries are members of ECOWAS EXCEPT
A Angola
B Ghana
C Ivory coast
D Liberia
E Niger Republic
Which of the following goods are NOT examples of joint supply?
A Beef and hides
B fuel and kerosene
C Palm oil and kernel
D Tea and coffee
E Wool and Mutton
Standard deviation can be determined by the square root of the
A mean
B mean deviation
C mode
D variance
E variance divided by the mean
The following are types of monopolies EXCEPT
A cartels
B holding companies
C syndicates
D thrifts
E trusts
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