A typical corporate form of business organization is owned by?
A. Shareholders B. A local government C. The president of a country D. Foreigners and citizens of the country. Correct Answer: Option A = Shareholders
Inflation can be curbed by
A. Deficit budget B. Paying higher wages C. Increased aggregate demand D. Reducing aggregate demand Correct Answer: Option D – Reducing aggregate demand
Which of these is not a cause of high population growth in Nigeria?
A. Improved hygiene B. Reduction in death rate C. Family planning unit of Nigeria D. Increased birth rate Correct Answer: Option C = Family planning unit of Nigeria
An economic problem arises when
A. Sellers are few B. Scarcity and choices are involved C. Buyers are many D. Money is in short supply Correct Answer: Option B = Buyers are many
If the price of a commodity falls and the quantity purchased does not rise; the commodity can be described as
A. Scarce B. Normal C. Superior. D. Inferior Correct Answer: Option D = InferiorProducts
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