Question 1 of 20 147 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
The headquarters of the African Development Bank (ADB) was originally located at
A Cotonou
B Harare
C Abidjan
D Lagos
The five countries that established the Organization of Petroleum Exporting Countries (OPEC) are
A Nigeria, Iraq, Venezuela, Kuwait and Ghana
B Saudi Arabia, Kuwait, Sierra Leon, Iran and Iraq
C Algeria, Kuwait, Venezuela, Iran and The Gambia
D Kuwait, Venezuela, Iran Iraq and Saudi Arabia
One major aim of a cartel is to
A increase production
B regulate output through quota system
C have a joint account
D share profits equally
Expenditure by foreign tourist in a country will be recorded as
A visible exports
B official transfers
C transfer income
D divisible exports
The terms of trade is described as unfavourable when
A the price of imports rises relative to those of exports
B the price of exports rises relative to those of imports
C the net income from aabroad does not change
D the value of exports exceeds those of imports
Terms of trade may be define as the
A trade between one country and another
B relationship between country's receipt from others and payment to others
C rate at which a country's export exchange for imports
D different between the value of export and imports
Economic development is reflected in the
A scarcity of capital
B increase in the price level
C decline in the agricultural production
D increase in productive capacity
The need for development planning arises largely from the fact that
A aggregate savings exceeds aggregate consumption
B aggregate consumption equals aggregate savings
C productive resource are in excess of the demand for them
D productive resource are scarce relative to the demand for them
Fiscal policy is associated with
A taxation and government expenditure
B re-structuring of the banks
C injection of more money into the economy
D reduction in economic activities
Government expenditure on the construction of roads and bridges is
A recurrent expenditure
B capital expenditure
C supplementary expenditure
D variable expenditure
The tax imposed on good manufacture within a country is
A an excise tax
B a capital gain tax
C profit tax
D a sales tax
which of the following serves as a banker's bank?
A Commercial banks
B The Mortgage Bank
C The Central Bank
D Development Bank
Next
Question Navigator
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
