The marginal product X is

• A. 18
• B. 20
• C. 24
• D. 25

The major function of the wholesaler to his customers is?

• A. breaking of bulk
• B. offering personal services
• C. stocking a variety of goods
• D. providing transport facilities

The main objective of privatizing a government business is to

• A. create additional employment
• B. increase expenditure
• C. source for new funds
• D. increase the level of efficiency

(a) Define a market.

(b) Explain four characteristics of a perfect market.

The following constitute the criteria for identifying an economic system except?

• A. ownership of resources
• B. scarcity of resources
• C. method of decision making
• D. motivation for production

In the diagram below, the curve which represents firm's short-run average variable cost is curve

• A. l
• B. ll
• C. lll
• D. IV

Net migration is the difference between

• A. population and census
• B. immigrants and emigrants
• C. per capita income and population
• D. internal and external migration

public expenditure can be financed from all the following sources except the

• A. borrowing
• B. grant-in-aid
• C. royalties and rent
• D. mobilization fees

In order to accelerate economic development, a country must?

• A. stimulate her population growth rate
• B. pursue a high population growth rate
• C. pursue a rational population policy
• D. pursue an incremental population policy

The coefficient of price elasticity of supply of land is usually____________

• A. One
• B. Greater than one
• C. Zero
• D. Less than one.