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Question 5 Report
According to the theory of comparative advantages, countries are to specialize based on their
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Question 9 Report
In economics, electricity, water supply, communication networks, road, etc are known as
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Question 10 Report
The first commercial oil well in Nigeria was discovered in
Question 12 Report
A shift of the demand curve leftward from its original position indicate
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Question 13 Report
Which of the following is NOT a sources of national income statistics?
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Question 15 Report
Which of the following is NOT a reason for the absence of an industry in the rural areas?
Question 18 Report
In the demographic transition theory, stage II represents a stage where
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Question 29 Report
The demand for a commodity for the sake of what it will yield is
Question 33 Report
The professional that view cost in term of alternatives sacrificed is the
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Question 37 Report
Using functional relationship in economics QX = f (px, po, y, T); po stand for
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Question 39 Report
One of the following is NOT a reason for increase in public expenditure
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Question 41 Report
A tax system which takes lesser percentage of a tax payers income as his income increase is known as
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Question 44 Report
An economic system where both the public and individuals own and control means of production is known as ……… system
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Question 45 Report
Which of the following is a characteristic of private enterprises?
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Question 46 Report
The law of variable proportion state that if the quantities of variable factor of production are used with fixed factor, after a certain point,
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Question 49 Report
Abdul is faced with a choice between buying a new NOTE book and a pen with N10. Since the N10 can NOT give him both items he decide to buy NOTE book. The money cost to him is
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