Which of the following is a function of a retailer?

• A. Banking services
• B. Hoarding services
• C. Storage services
• D. Sales services

Import duties will increase total expenditure on imports if the demand for imports is?

• A. elastic
• B. inelastic
• C. infinitely elastic
• D. derived

West African countries are experiencing worsening terms of trade because

• A. they are primary producers
• B. their currencies are overvalued
• C. they import less machines
• D. they are tertiary producers

Which of the following does not give a characteristics of money?

• A. Durable
• B. Portable
• C. Divisible into small units
• D. Medium of exchange

An increase in the prices of factor inputs may result in

• A. demand-pull inflation
• B. stagflation
• C. open inflation
• D. cost-push inflation

Hassan , an economic teacher in Lagos, resigned his appointment and took yup another job as a banker . The The concept here involves

• A. occupational mobility of labour
• B. horozontal mobility of labour
• C. vertical mobility of labour
• D. geographical mobility of labour

if an economy is growing at an annual rate of 7% and 4% of it is known to be due to the improvement in labour ans capital combined, the balance of 3% is usually attributed to

• A. land and entreprenuer
• B. abundance of natural resources
• C. level of human capital
• D. technical progress and related factors

One of the factors affecting change in demand for a commodity is the _______?

• A. Supply of the commodity
• B. Availability of the substitutes
• C. Price of the commodity
• D. Technical know-how

which of the following serves as a banker's bank?

• A. Commercial banks
• B. The Mortgage Bank
• C. The Central Bank
• D. Development Bank

which of the following is not an effect of many middlemen in the chain of production

• A. shortage of commodities
• B. low retail prices
• C. hoarding of goods
• D. high retail prices