Economics Past Questions And Answers
The following are reasons for failure of agricultural policies in West Africa except
- A. vague policy statements
- B. negation of polices
- C. creation of agro-service stations
- D. provision of obsolete implements
Consumers have access to a variety of goods through the activities of the
- A. retailers
- B. advertising agencies
- C. mass media
- D. wholesalers
which of the following is not a method of controlling monopoly
- A. preventing mergers
- B. indigenization
- C. privatization
- D. imposing high profit tax
when all factors input are reduced by half, the production possibility curve will shift
- A. outwards
- B. inwards
- C. downwards
- D. upwards
The following are advantages of sole proprietorship except
- A. quick and easy decision-making
- B. keeping its business affairs private
- C. assurance of raising huge capital for expansion
- D. high level of commitment
Labour-intensive strategy of industrialization emphasizes the use of?
- A. steam energy in the process of production
- B. manual method of production
- C. synthetic raw materials
- D. hydro-electric power
The type of unemployment that occurs as a result physical or mental disability of labour is known as
- A. frictional unemployment
- B. structural unemployment
- C. cyclical unemployment
- D. residual unemployment
The Central Bank controls money supply through all the following except
- A. lending to the publics
- B. bank rate
- C. legal reserve requirements
- D. open market operation
One of the effects of instability in farmer's income in Nigeria is
- A. lack of infrastructural facilities
- B. rural-urban migration
- C. inadequate supply of fertilizer
- D. low level of technology
The direct exchange of one goods for another without the use of money is known as
- A. foreign exchange
- B. exchange rate
- C. expenditure rate
- D. barter