Distribution is part of production because it
- A. Makes goods and services available to the final consumer
- B. Transport the goods from place to place
- C. Offers employment to people
- D. Encourages the provision of good roads, waterways and railways
- E. Links the consumer with the producer
in a rapidly growing economy where human labour is being replaced by machines, there is likely to be
- A. classical unemployment
- B. frictional unemployment
- C. seasonal unemployment
- D. residual unemployment
- E. cyclical unemployment
The money paid per hour or week for work done is known as
- A. cost
- B. time rate
- C. bonus
- D. wage rate
- E. labour
which of the following is not correct?
- A. Population refers to number of people living in a place
- B. The population of a place is not static
- C. Population is known through a census
- D. Population is affected by the amount of money in circulation
- E. Population can be affected by natural disaster
a person who buys in bulk and sells in bit is a
- A. manufacturer
- B. sales representative
- C. retailer
- D. advertiser
- E. distributor
the movement of a worker from one grade to another within the same industry is a form of mobility of labour which is
- A. geographical
- B. vertical
- C. occupational
- D. horizontal
- E. lateral
Which of the following is the normal channel by which the commodities reach the final consumer?
- A. Mnaufacturer-wholesale-agent retailer-consumer
- B. Mnufacturer-wholesale-retailer-consumer
- C. Manufacturer-wholesale-sales representative-retailer-consumer
- D. Mnufacturer-wholesale-retailer-agent-consumer
- E. Mnaufacturer-wholesale-retailer-sales-representative-consumer
one of the argument against he presence of middlemen in the distribution chain is that they
- A. cause increase in the price of commodities
- B. are commissioned agents
- C. helps in keeping price stable
- D. grade and blend goods
- E. can be found almost everywhere
which of the following categories of people do not gain during inflation?
- A. Debtors
- B. businessmen
- C. Shareholders
- D. Investors
- E. Creditors
which of the following does not hinder the efficient of distribution of goods in West Africa?
- A. inadequate transportation network
- B. inadequate storage facilities for agricultural goodss
- C. inadequate credit facitlities for potential distributors
- D. Government participation in the distributive trade
- E. The tendency to hoard and smuggle
One of the advantages of Sole Proprietor is that
- A. risks are unlimited
- B. technological progress is often out of reach
- C. shares and stocks can be issued to raise funds
- D. initiatives can be used in all cases
- E. it folds up in the case of death, lunacy or insolvency
The clearing house of all commercial banks in Nigeria is the
- A. General Post Office
- B. Bnak forCommerce and Industry
- C. Nigerian Industrial Development Bank
- D. Mortgage Bank
- E. Central Bnak
which of the following factor is not important in deciding the location of an industry?
- A. the native language of the epople
- B. availabilty of suitable labour
- C. Source of cheap power and raw materials
- D. Proximity to the location of a similar industry
- E. proximity to the market
A firm is said to be a Public Joint-Stock Company when it
- A. is owned by the government
- B. operates as a public corporation
- C. is a limited liability company
- D. sells its shares to memebers of the public
- E. is administered by the public
which of the following reasons explains the upward sloping of supply curve in a competitive market?
- A. Ceteris paribus, marginal cost increase as output increases
- B. As new firms enter the market, factor price moves up
- C. Firms are in business to satisfy consumers
- D. Marginal cost often increases in a competitive market
- E. Firms are in business to produce goods
Which of the following is regarded as fixed cost?
- A. cost of raw material
- B. cost of fuel
- C. cost of light
- D. rent on land
- E. labour wages
Given that fixed cost is N500.00, variable cost N1,500.00 and output is 50 units, what will be the average cost of producing one unit?
- A. N2,000.00
- B. N60.00
- C. N50.00
- D. N40.00
- E. N30.00
Mobility of labour is not affected by
- A. the optimum size of population
- B. marriage and family
- C. the regulation of trade unions
- D. the period of training
- E. culture and religious beliefs
the indicator of the value of money in the market is the
- A. the general price level
- B. effective supply
- C. the equilibrium price
- D. effective demand
- E. consumer income
What is the correct term for this group of exports : tractor, televisions, components, drugs and cars?
- A. Current account items
- B. Visible exports
- C. Capital accoutn items
- D. Invisible exports
- E. Visible imports
Which of the following is not appropriate in calculating national income figures?
- A. output method
- B. Income method
- C. Expenditure method
- D. Value added method
- E. Depreciation method