43
Utility of a commodity means?
- A. its usefulness
- B. power to satisfy a want
- C. price of the commodity
- D. satisfaction derived from the product of commodity
- E. its adaptability
44
Commercial banks can create money in the following ways?
- A. by using coins and paper money
- B. by borrowing money from banks abroad
- C. by receiving deposit from individuals
- D. by printing money on the instruction of the central bank
- E. none of the above
45
Which is NOT a cause of high population growth in Nigeria?
- A. Family planing Unit of Nigeria
- B. Improve medical facilities
- C. Reduction in death rate
- D. Improve hygiene
- E. Increased birth rate
46
Which is NOT a function of Central Bank in West Africa
- A. Dealing in foreign exchange
- B. Issuing of currency
- C. Accepting deposit from private customers
- D. Acting as government bank
- E. Acting as bankers bank
47
Price control indicate the following
- A. price is fixed at equilibrium level
- B. price is fixed above equilibrium level
- C. price is not fixed but determined by demand and supply
- D. price is fixed below equilibrium level
- E. none of the above
48
Which would you NOT consider an agro-based industry in Nigeria?
- A. a diary enterprise producing milk
- B. a yam floor mill
- C. a poultry industry
- D. a fertilizer plant
- E. none of the above
49
From an economic point of view, an activity does not have a cost when
- A. someone else pays for it
- B. the returns are greater than the cost
- C. the choice involves giving up nothing
- D. the government pays for it
- E. it is paid for from a gift
50
Production in Economics occurs when
- A. a commodity or service is sold
- B. utility is created or added
- C. a commodity is manufactured
- D. raw materials are produced or extracted from mines
- E. all of these