If the standard deviation of a given data is 53, what is the variance?

• A. 2082
• B. 2809
• C. 2808
• D. 2209

middlemen in an economy perform the function of

• A. distribution
• B. exchange
• C. Hoarding
• D. protector

The advantages which firms obtain directly from expanding their operations are referred to as?

• A. internal economies of scale
• B. external economies of scale
• C. economics of localization
• D. economies of resources allocation

Inflation in the Nigeria economy may be fueled by increase in?

• A. the dollar price of crude oil
• B. the sale of company shares
• C. government expenditure
• D. sale of government bonds

Which of the following sets fully represents factors of production?

• A. Sunlight, machinery, man, land
• B. Land, water, weather
• C. Money, market, middlemen
• D. Land, labour, capital, enterprise, technology

Risk bearing and managerial control are the main function of the

• A. managing director
• B. manager
• C. entrepreneur
• D. chief excecutive

The best way to reduce the supply of money in the economy is to?

• A. increase the liquidity ratio
• B. increase the number of bank-notes and cheques produced
• C. decrease treasury bills
• D. liberalize access to credit

An advantage of the sole proprietorship over the partnership from of business organisation is that

• A. its existence is limited by an individual's life span
• B. it relies on the decision of friends to succeed
• C. the possibility of conflict in management is virtually non-existent
• D. it enjoys limited liability for debt in the event of failure

The real value of money is

• A. its face value
• B. what it can buy ata a particular time
• C. its rate of exchange with other currencies
• D. its intrinsic worth

Economic can be defined as?

• A. reduction in spending in the face of competing alternative
• B. allocation of resources to alternative uses
• C. economic behaviour of small units like the household and the firm
• D. the study of economic aggregates like inflation and national income