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Question 1 Report
Price elasticity of supply measures the responsiveness of quantity supplied to
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Question 2 Report
Which of these factors causes a change in the quantity demanded of a commodity?
Question 3 Report
Which of the following is NOT an advantage of tabular presentation of data?
Question 4 Report
The amount of satisfaction per unit of the commodity consumed is called
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Question 5 Report
The following are the differences between domestic and international trade EXCEPT
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Question 8 Report
The correct relationship between income (Y), consumption (C) and savings (S) is
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Question 9 Report
The additional satisfaction derived from the consumption of one more unit of a good is called
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Question 10 Report
The mean of the following scores
30, 32, 34, 36, 38, 40 and 42
What is the mean deviation?
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Question 11 Report
These are the objectives of industrial strategies in Nigeria EXCEPT
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Question 15 Report
Which of the following is a determinant of elasticity of supply?
Question 16 Report
The unit for measuring changes in prices and output is called ………………. index
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Question 18 Report
Using Expenditure Approach to estimate National Income, Y is equal to
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Question 22 Report
When the demand for foreign exchange exceeds its supply, the value of the domestic currency
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Question 25 Report
The process of building up country’s capacity to process raw materials for the production of goods is known as
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Question 27 Report
Through membership of the Economic Community of West African States (ECOWAS) countries have achieved
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Question 33 Report
The price and quantity of crude oil and petrol sold to other countries by Nigeria is fixed by the
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Question 34 Report
The concentration of firms in one area is referred to as of ……………. industries.
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Question 35 Report
One of the positive contributions of the petroleum industry to Nigeria’s economic development is that it
Question 37 Report
When the value of a country’s export exceeds her imports, there will be a
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Question 38 Report
Which of the following hinder(s) effective distribution of goods in Nigeria?
Question 40 Report
One of the roles of industrialization in economic development of Nigeria is
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Question 41 Report
Oil was first discovered in commercial quantity in ……….. State.
Question 42 Report
In a given set of data, if the variance is 25, what is the standard deviation?
Question 48 Report
The demand curve of a perfect competitive market is infinitely elastic indicating that the firm can
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