Question 1 of 20 143 total questions
The central banks control credit in the economy through the use of
A legal tender
B travellers cheque
C foreign exchange instruments
D open market operation
Discounting a bill of exchange means the bill is
A cashed over the counter
B sold on the stock exchange
C bought for less than its face value
D sold to the highest bidder
The lender of last resort in the banking system is the
A industrial banks
B mortgage banks
C commercial banks
D central banks
A commercial banks deposits are
A liabilities
B assets
C capital
D cash at hand
A persistent and appreciable rise in the general level of price is known as
A depreciation
B inflation
C deflation
D production
The term demand for money means
A desire to borrow money from people
B desire of an individual to invest all his money in projects
C willingness of people to hold money
D wilingness of people to keep all their resources in assets
Acceptability, durability, homogeneity and portability are all attributes of good
A markets
B money
C banks
D government
The direct exchange of one goods for another without the use of money is known as
A foreign exchange
B exchange rate
C expenditure rate
D barter
The profit of the producers can be calculated as the
A total cost less total revenue
B average revenue less average cost
C total revenue less total cost
D marginal revenue less marginal cost
information about new goods is passed on to buyers through
A advertising
B retail trade
C the manufacturer
D wholesale trade
In which of the following business units are the owners mostly customers?
A co-operatives
B limited liability companies
C partnerships
D public corporations
Wholesalers are often criticized because they
A help to break the bulk
B finance producers
C increase prices
D provide after-sales services
One-man business are popular in West Africa because of all the following except the
A ease of entry
B small capital required
C limited enterpreneur skills needed
D tendency to become joint-stock compsnies
The transfer of ownership of a public enterprise to individuals and firms is called
A commercialization
B nationalization
C privatization
D restructuring
If elasticity of demand for a commodity is less than one, demand is
A unitary elastic
B inelastic
C infinetelt elastic
D zero elastic
one of the factors determining price elasticity of demand for a commodity is the
A availability of close substitutes
B number of producers
C government policy
D price of other commodities
If the government fixed a price of a commodity above equilibrium price, the quantity supplied will be
A less than quantity demanded
B equal to the qauntity demanded
C greater than quantity demanded
D equal to zero
At the equilibrium price, quantity demanded is
A greater than quantity supplied
B equal to quantity supplied
C less than quantity supplied
D equal to excess supply
amount of goods offered to the market at respective prices and presented in a table is called
A price schedule
B supply schedule
C scale of preference
D demand schedule
The desire for goods without the ability to pay is called
A choice
B effective demand
C joint demand
D wants
Next
Question Navigator
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
