43
What is meant by labour supply?
- A. Number of people in working population
- B. Number of men and hours they work
- C. Number of hours during which the middle aged persons work
- D. Number of workforce multiplied by the hours they work
44
The population of Oh-aha L.G.A. WAS 480 000 in December 1980, out of which 60% were females . If within one year no birth were recorded, but 5% of the L.G.A. in December 1981?
- A. 96 000
- B. 192 000
- C. 288 000
- D. 470 400
45
An aging population is a population?
- A. with a high dependency ratio
- B. with many young people
- C. in which the number of old persons is increasing
- D. that is dominated by very old people
46
The problems of conducting census include?
- A. high rate of rural-urban migration
- B. poor geographical distribution of population
- C. high birth rate in tthe coutry
- D. poor town planning in urban areas
47
The active intervention of the central authorities in the management of a country’s economy rest upon the?
- A. failure of the market force to produce satisfactory result
- B. superiority of the centrally planned economy over the private enterprise economy
- C. result-oriented nature of the private enterprise economy
- D. cost-minimization strategy of a mixed economy
48
What to produce in any society is determined by the?
- A. expenditure of the people on different commodities
- B. competition among the different producers
- C. competition among the different consumers
- D. supply and demand in the factor markets
49
A student in Obu’pu Secondary School discovers that he simultaneously needs a pen, an exercise book, an eraser and a ruler, but that he can purchase only one of these items. What is the first thing he is expected to do?
- A. Check how much he has
- B. Find out which is the cheapest of the items
- C. Draw up a scale of preference
- D. Weigh the opportunity cost of each item against the other
50
The ultimate objective of Economics is to?
- A. make effort to understand how the Economy works
- B. make the best use of scarce resources
- C. organize production at the lowest cost
- D. decide under what circumstances the government should intervene inthe economy