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Ibeere 2 Ìròyìn
When an increase in the price of a commodity lead to a fall In the demand for aNOTher, the demand for the two commodities are said to be
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Ibeere 3 Ìròyìn
When the total product starts falling, then the marginal product is
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Ibeere 4 Ìròyìn
The system of farming which involves the use of a large hectare of land planted with economic crops is known as
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Ibeere 5 Ìròyìn
An industry engaged in the extraction of raw materials and its conversion into semi-finished goods is called industry.
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Ibeere 6 Ìròyìn
Which of the following is the correct order in the chain of distribution?
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Ibeere 7 Ìròyìn
The recent revolution of Cassava from ordinary food crop to export crop will lead to
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Ibeere 9 Ìròyìn
Which of the following will NOT bring about an increase in Labour force?
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Ibeere 11 Ìròyìn
The following are the objectives of agricultural policies in Nigeria EXCEPT
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Ibeere 13 Ìròyìn
An industry operating in a perfect competitive market situation will maximum profit when
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Ibeere 14 Ìròyìn
Which of the following is NOT a positive contribution a petroleum to Nigeria economy?
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Ibeere 16 Ìròyìn
Which of the following is NOT a major role of OPEC in production, and marketing of petroleum?
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Ibeere 17 Ìròyìn
Which of the following is a disadvantage of localization of industries?
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Ibeere 18 Ìròyìn
A major characteristics of a firm operating at a long-run equilibrium position is that
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Ibeere 19 Ìròyìn
If two bags of rice were sold for N1,250 a mouth ago and two weeks later, the same amount was used to procure one bag. This simply means that the value of money is
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Ibeere 21 Ìròyìn
The following are problems of development planning in Nigeria EXCEPT
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Ibeere 26 Ìròyìn
The following will occur when maximum price is fixed below the free market price EXCEPT that
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Ibeere 27 Ìròyìn
A business formation with a minimum of two and maximum of twenty persons is called
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Ibeere 28 Ìròyìn
If the standard deviation of a set of numbers is 3.6, what is the variance?
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Ibeere 30 Ìròyìn
Range is NOT the best method of measuring dispersion because it considers only the
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Ibeere 31 Ìròyìn
Production is said to be complete when goods and services gets to the
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Ibeere 32 Ìròyìn
The use of tax and expenditure policy to regulate the economy is known as
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Ibeere 34 Ìròyìn
In the equation Q = a - bp + e; Q and P are .... Variables respectively.
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Ibeere 35 Ìròyìn
Under perfect competition, a profit maximizing firm will hire labour up to the point where the last unit of labor adds
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Ibeere 36 Ìròyìn
Which of the following is NOT a function of marketing boards in Nigeria?
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Ibeere 37 Ìròyìn
If the population of a school is 600 and 60% are In JSS, how many students are in SSS?
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Ibeere 38 Ìròyìn
Which of the following is NOT included in-measuring the National income through the income approach?
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Ibeere 41 Ìròyìn
The following can be used to improve a country’s balance of payment EXCEPT
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Ibeere 42 Ìròyìn
Which of the following is NOT associated with minimum price legislation?
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Ibeere 44 Ìròyìn
The satisfaction derived from Die consumption of a commodity is referred o as
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Ibeere 45 Ìròyìn
The trade-off between two commodities along the Production Possibility Curve (PPC) shows
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