Economics Past Questions And Answers
which of the following does not hinder the efficient of distribution of goods in West Africa?
- A. inadequate transportation network
- B. inadequate storage facilities for agricultural goods
- C. inadequate credit facitlities for potential distributors
- D. Government participation in the distributive trade
Indifference curve arid isoquant are respectively relevant
- A) Theories of consumer behaviours and production
- B) Theories of human indifference and production
- C) Theories of trade and production
- D) Theories of production and trade
Scale of preference shows
- A. opportunity cost of goods consumed
- B. incomes of consumers in order of size
- C. utilities enjoyed by consumers
- D. consumer's wants in order of priority
An economic system where the central planning authority determines what goods to produce and in what quantity is known as
- A. market economy
- B. socialist economy
- C. welfare economy
- D. Traditional economy
The group of unemployed members of a community who are physically handicapped or disable, is generally classified under unemployment as?
- A. frictional
- B. cyclical
- C. residual
- D. hidden
The total amount of money raised by a company through issuance of shares to the public is
- A. debentures
- B. nominal capital
- C. ordinary shares
- D. paid-up capital
if the price of a commodity Z falls and a consumer buys less of it, then commodity Z is a
- A. necessity
- B. good of ostentation
- C. normal good
- D. giffen good
International income accounting, double counting occurs when
- A. intermediate goods are counted twice
- B. intermediate goods are counted with the final goods
- C. final goods are counted more than twice
- D. different people count the products
In the long run, as individuals receive higher wages, it causes
- A. demand for food to decrease
- B. demand for leisure to decrease
- C. supply of normal goods to decrease
- D. supply of labour to decrease
The optimum population of a country is reached when the
- A. production of goodsand sevices is less than optimum
- B. output per head is at its highest with a given volume of resources
- C. total production increases with a given volume of resources
- D. national resources increases as population increases