by Sunday | May 2 | Economics NECO
A. resources used to produce a particular commodity B. possible combinations of two commodities C. rate of inflation D. rate of unemployment in the country E. tabular illustration of production possibilities Correct Answer: Option B – possible combinations of...
by Sunday | May 2 | Economics NECO
A. 45 B. 5 C. 55 D. 10 E. 12 Correct Answer: Option B – 5
by Sunday | May 2 | Economics NECO
A. average cost B. average utility C. marginal cost D. marginal utility E. total utility Correct Answer: Option B – average utility
by Sunday | May 2 | Economics NECO
A. a large market for their products B. emancipation of Africa C. full employment of resources D. higher transportation cost of goods within the region E. military superiority over other African countries Correct Answer: Option A – a large market for their...
by Sunday | May 2 | Economics NECO
A. refuse to sell any quantity B. sell any quantity of output at the prevailing price C. sell fixed quantity of output at the prevailing market price D. sell less quantity E. sell more quantity at a higher price Correct Answer: Option...
by Sunday | May 2 | Economics NECO
A. Cartel B. Entrepreneurship C. Partnership D. Stock exchange E. Supermarket Correct Answer: Option C – Partnership
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