The solution to problem of how to produce in a capitalist economy is solved by
- A. combining aid labour means of production
- B. the producers involves
- C. using capital Intensive method of production
- D. using labour intensive method of production
- E. using the method of production with the least cost
Branding and packaging of goods Is the function of
- A. brokers
- B. consumers
- C. manufactures
- D. retailers
- E. wholesalers
Which of the following is NOT a contribution of agriculture to industrial development?
- A. provision of food for the industrial sector
- B. Provision of funds for industrial development
- C. Provision of raw materials
- D. Supply of labour to the industrial sector
- E. supply of machinery to the industrial sector
The creation of physical and concrete goods that can be seen and handled Is
- A. diminishing returns
- B. division of labour
- C. Industrialization
- D. production
- E. specialization
The following measures used to check deflation EXCEPT
- A. deficit financing
- B. improving distribution system
- C. increasing wages and salaries
- D. raising the bank rate
- E. reducing taxation
A deliberate government policy to exclude foreign participation in certain economic activity is known as
- A. commercialization
- B. indigenization
- C. liberalization
- D. localization
- E. privatization
The following methods are used in calculation of National Income EXCEPT
- A. depreciation
- B. Expenditure
- C. Income
- D. Output
- E. value added
which of the following measures can be used to control inflation?
- A. decrease in bank rate
- B. Decrease in taxation
- C. deficit budget
- D. Export drive
- E. Increase in government expenditure
Which of the following is a disadvantage of sole proprietorship?
- A. Does not enjoy limited liability
- B. Decisions are easily made and implemented
- C. Easy to set up
- D. Enjoys secrecy
- E. Maintains dose relationship with workers and customers
If total Income is N15m and total consumption Is N3m. then the average propensity to consume is
- A. 0.2
- B. 0.6
- C. 0.7
- D. 5
- E. 10
A change in National Income brought about by a given change in investment Is
- A. APC
- B. APS
- C. MPC
- D. MPS
- E. The multiplier
Which of these is NOT a bottle neck In the distribution of goods In Nigeria?
- A. Adequate transportation network
- B. Inadequate credit facilities
- C. Inadequate storage facilities
- D. poor processing and packaging
- E. Unnecessary hoarding
Agricultural production in Nigeria could be improved through
- A. control of plant diseases
- B. Land Fragmentation
- C. Payment of excise duty
- D. the introduction of low yielding crops
- E. the use of traditional implements
The difference between bar charts and histograms is that the former
- A. are difference between bars adjoined to each other while the latter are separate bars divided Into sections
- B. are line graphs while the latter are rectangular bars
- C. are separate bars divided Into sections while the latter are line graphs
- D. has bars adjoined to each other while the latter has separate bars
- E. has bars separate from each other while the latter has bars adjoined to each other
The following are advantages of standard deviation EXCEPT that it
- A. has greater practical utility In sampling
- B. is a good measure of dispersion since all the values are used in its calculation
- C. is important and useful in the analysis of T- Test
- D. is not a sound mathematical index
- E. is the most popular measure of dispersion in distribution
Find the arithmetic mean of the following set of scores 12, 4, 2, 8, and 14
- A. 8
- B. 10
- C. 12
- D. 14
- E. 30
In a solo proprietorship, decisions are made by the
- A. board of directors
- B. government
- C. management
- D. owner
- E. shareholders
The difference between Gross National Income and Gross Domestic Product is known as
- A. capital consumption
- B. debt repayments
- C. Investment abroad
- D. net income from abroad
- E. net saving
At the point where total utility begins to decline MU is
- A. constant
- B. decreasing
- C. increasing
- D. negative
- E. zero
Unemployment resulting from physical or mental deficiency is known as……………unemployment.
- A. cyclical
- B. disguised
- C. Frictional
- D. residual
- E. Voluntary
Population density refers to
- A. total population
- B. the total population divided by the total area of land
- C. the total area of land divided by the total population
- D. the population ratio of male and female
- E. optimum Population level