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
which of the following is not a function of money?
- A. store of values
- B. unit of accounts
- C. measures of value
- D. standard for deferred payment
- E. stability in value
Data presented in table are usually arranged in
- A. charts and tables
- B. rows and columns
- C. graphs and rows
- D. pictograms and columns
- E. maps and pie charts
all the following are source of finance to a Joint Stock Company except
- A. bank loans
- B. equity shares
- C. debentures
- D. preference shares
- E. cooperative thrift
money supply at any given point in time refers to as
- A. bank notes, coins abd demand deposits
- B. notes and coins only
- C. minted money
- D. hoarded money
- E. money received as gifts
In Economics market is define as
- A. A place where buyers and sellers come together to exchange goods
- B. Any agreement made for consumers to buy all they need
- C. any arrangement made for producers to sell all their goods
- D. any arrangement where by buyers and sellers are in close touch with one another
- E. a place where only consumer goods are sold
An inflation in which the price rises steadily at an average rate of about 2% per annum is best described ad
- A. Galloping
- B. Induced
- C. Creeping
- D. Suppressed
- E. Run-away