| X | 2 | 3 | 4 | 5 |
| F | 2 | 5 | 2 | 1 |
What is the median of the distribution?
- A. 5
- B. 4
- C. 3
- D. 2
In other to enhance the utility of a particular commodity, it was moved from a place where it has little utility to another area where its utility is higher. This form of utility is referred to as?
- A. Marginal utility
- B. Form utility
- C. Place utility
- D. Total utility
Which of the following is an advantage of localization of industry?
- A. Development of subsidiary firms
- B. creation of parallel market
- C. development of slums
- D. attraction of foreign capital
Factors affecting size of Labour Force include the following EXCEPT?
- A. Level of technology
- B. Retirement age
- C. Government policies
- D. Trade Union activities
Calculate the population density of Nigeria, having a total population of 180 million with a total land area of 923,768 sq km?
- A. 195 million people per sq km
- B. 5132 people per sq km
- C. 195 people per sq km
- D. 1.7 million people per sq km
Consider the following statements:
1. Climate and availability of water largely determines the pattern of the population distribution.
2. Density of population helps in getting a better understanding of the spatial distribution of population in relation to land
Which of the statement(s) given above is/are correct
- A. Only 1
- B. Only 2
- C. Both 1 and 2
- D. Neither 1 nor 2
The economic term used to refer to human wants, desires or needs is known as?
- A. Ends
- B. Alternative means
- C. Scarce
- D. Means
The Economic Community of West African States (ECOWAS) has been slow in achieving its objective because of______________
- A. The activities of multinationals
- B. inadequate personnel at the secretariat
- C. political instability
- D. inadequate international support
Occupational distribution of information is mainly influenced by___________
- A. economic factor
- B. religious factor
- C. geographical factor
- D. social factor
The full meaning of NNPC is?
- A. Nigerian National Population commission
- B. Nigerian National Petroleum Corporation
- C. National Number of Petroleum Companies
- D. None of the above
The reward for capital is___________
- A. Interest
- B. Rent
- C. Risk
- D. Premium
The Economic Commission for Africa was set up by the_________
- A. UNO
- B. ECOWAS
- C. OAU
- D. IMF
If the pass mark was 40, how many students passed the examination?
- A. 100
- B. 120
- C. 160
- D. 200
The formation of cartels or monopolies in other to obtain better bargaining or deals from other countries is characteristic of which of the following?
- A. International monetary Fund
- B. Countries with comparative advantage
- C. Countries with superlative advantage
- D. Countries producing same or identical goods
The main concern of economists is to________-
- A. Control the growth of population
- B. Redistribute income between the rich and poor
- C. Satisfy all human wants
- D. Allocate scarce resources to satisfy human wants
Utility is the satisfaction derived from____________
- A. Production
- B. Distribution
- C. Consumption
- D. Demand
Which of the following business organization is allowed to raise capital by sales of shares to more than twenty people?
- A. Partnership
- B. Sole proprietorship
- C. Public limited liability company
- D. Private limited liability company
The form of capital that is required for the day-to-day running of production activities is called?
- A. Fixed capital
- B. Social Capital
- C. Circulating capital
- D. Liquid capital
Mortgage banks give loans to investors on a long term basics to_____________
- A. Finance agriculture
- B. establish banks
- C. acquire machinery
- D. build houses
Human wants are insatiable because wants are____________
- A. Limited while means are scarce
- B. Unlimited and means are also unlimited
- C. Limited and means are also limited
- D. Unlimited while means are scarce.
The policy by which government encourages producers of export goods to produce and export more in order to earn more foreign exchange is called__________
- A. Sales promotion
- B. Term of trade
- C. Export promotion
- D. International trade