The satisfaction derived from Die consumption of a commodity is referred to as?
A. consumption B. demand C. production D. utility E. utilization Correct Answer: Option D – utility
An industry operating in a perfect competitive market situation will maximum profit when?
A. DD = SS B. DD < SS C. MC > AC D. MC < AR E. MC = MR Correct Answer: Option E – MC = MR
The 2nd National Development plan in Nigeria was between?
A. 1962 — 1968 B. 1970 — 1974 C. 1975 — 1980 D. 1980 — 1985 E. 1985 — 1990 Correct Answer: Option B – 1970 — 1974
An economy in which decision of what to produce is taken partly by private individuals and state is referred to as Economy.
A. capitalist B. communist C. mixed D. socialist E. welfarist Correct Answer: Option C – mixed
Persistent fail In the general price level Is known as?
A. deflation B. devaluation C. general price Increase D. inflation E. price index Correct Answer: Option A – deflationProducts
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