Most firms are financed by share capital. The shares which do not carry any fixed rate of dividend are known as ?
- A. debentures
- B. preference shares
- C. ordinary shares
- D. participating preference shares
- E. old shares
The control price for a carton of beer in Nigeria is N7.20. But a carton of beer is sold in parts of the country for as much N15.00 The cause of this exorbitant price is that?
- A. there is a Government ban on the importation of beer
- B. beer distributors want more profit
- C. Nigeria is a large country
- D. middlemen hoard beer
- E. the demand for beer exceeds the supply
The supply of and demand for goods and services are influenced by the?
- A. supermarkets
- B. entrepreneurs
- C. mechanism of the law
- D. mechanism of equilibrium
- E. price mechanism
In the study of Economics, land, labour, capital and entrepreneur are referred to as factors of production. These factors produce commodities only if they are?
- A. profitable to the production process
- B. purchased for the purpose of production
- C. combined in the production process
- D. provided adequately for the production process
- E. brought into the factory
We can classify the people of Nigeria into three broad age group :Group one, 0-15years ; Group Two,16-64years; Group Three, 65years and above. Group Two is the most important economically because
- A. it is the dependent population of Nigeria, economically
- B. all student in Nigeria are in this group
- C. more than 50% of all Nigerians are in this group
- D. it is the most expensive group of the economy
- E. it is the productive group of the economy
To calculate the annual natural growth rate of a country’s population, one has to know the country’s annual birth rate and
- A. the size of that country
- B. the rate of immigration into that country
- C. the population census of that country
- D. the annual death rate
- E. the gross domestic product annual(GDP) of that country
Economist speak about ‘opportunity cost’ when a person
- A. has the opporunity to attain a high degree of cost minimization
- B. has to forego one thing in order to have another
- C. can equate his fixed costs with his variable costs
- D. is able to run his business without much expenditure
- E. has to maximize utility in order to maintain a high standard of living
Economics is a science which deals basically with
- A. the factors of production
- B. allocation of scarce resources
- C. oil exportation
- D. the gross domestic product (GDP)
- E. national income