Scarcity in Economics means that

• A. the economy can scarecely produce anything
• B. human wants are limitless
• C. the economy has very few resources
• D. resources are limited relative to wants

''....You are the Christ, the son of the living God.''

The statement above was made by

• A. Peter
• B. James
• C. John
• D. Philip

One of the main achievements of the Economic Commission for Africa is

• A. eliminating trade restrictions among states
• B. encouraging transport and communication development
• C. guaranteeing a steady flow of foreign investment into Africa
• D. providing the machinery for collaboration on monetary issues

The sale of of foreign investment and gold reserves can be used to?

• A. correct adverse balance of trade
• B. increase invisible imports
• C. correct adverse balance of payment
• D. correct a budget deficit

The corresponding entry of personal accounts found in the debit side of the cashbook is to

• A. credit real accounts
• B. credit the ledger
• C. debit real accounts
• D. debit the ledger

Which of the following is not an item of capital expenditure?

• A. Building of roads and bridges
• B. Supply of electricity
• C. Building of damns
• D. Payment of interest on loans

Choose the option opposite in meaning to the underlined word(s).

The President gave anotherextemporaneous speech last Friday?

• A. unprepared
• B. fascinating
• C. planned
• D. unfavourable

Receipt and payments account is a summary of the?

• A. budget
• B. trading account
• C. cash book
• D. profit and loss account

What is the range of their age?

• A. 14 years
• B. 20 years
• C. 30.5 years
• D. 31 years

Nigeria changed from Pounds to Naira in

• (a) 1972
• (b) 1971
• (c) 1970
• (d) 1969