As a producer’ association; the OPEC expects its members to maintain production where marginal cost is?
A. greater than price B. less than price C. equal to price D. equal to average cost Correct Answer: Option B – less than price
The Nigerian economy is mono-cultural because government revenue is derived mainly from?
A. agriculture B. manufacturing C. coal D. crude oil Correct Answer: Option D – crude oil
Industries contribute to national economic development because they?
A. utilize local raw materials B. employ an increase in the number of labour C. provide recreational facilities D. use modern machines which replace human labour Correct Answer: Option A – utilize local raw materials
The slow pace of industrial growth in Nigeria can be attributed to?
A. overdependence on the oil sector B. inadequate number of unskilled labour C. lack of raw materials D. inadequate infrastructural facilities Correct Answer: Option D – inadequate infrastructural facilities
A primary industry is concerned with?
A. extraction of resources in their raw states B. the operation of small scale enterprises C. the economic activities of primary producers D. clearing and cultivation of land only Correct Answer: Option A – extraction of resources in their raw...Products
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