economics

The demand curve for a normal good will shift to the left if?

A. the incomes of consumers rise B. the price of the goods rises C. the price of complementary goods rises…

5 years ago

If demand is relatively inelastic and sellers are able to raise the price of their commodity, then there we be a?

A. fall in both quantity of demand and total revenue B. fall in the quantity demanded and rise in total…

5 years ago

Under the Nigerian Structural Adjustment Programme, the marketing of agricultural commodities in Nigeria has been placed under?

A. the marketing boards B. the commodity boards C. the river-basin authorities D. private investors and individuals Correct Answer: Option…

5 years ago

The type of business finance that entitles the holder to a fixed rate of dividend is?

A. preferred stock B. common stock C. debenture D. bank loan Correct Answer: Option A - preferred stock

5 years ago

The price mechanism is more effective in achieving efficient performance of the economy than the planning mechanism because of the?

A. role of supply and demand B. role of material incentive C. existence of buyers and sellers D. role of…

5 years ago

The U-shape of the long run average cost curve can be explained by the?

A. law of increasing returns B. law of constant returns C. law of diminishing returns D. concepts of economies and…

5 years ago

The higher the price of capital relative to the price of labour, the more production techniques should be?

A. labour-intensive B. capital-intensive C. fixed D. technology-intensive Correct Answer: Option A - labour-intensive

5 years ago

BY definition, variable cost (VC) is related to total costs (TC) and fixed costs (FC) by the equation?

A. VC =TC + FC B. VC = TC - FC C. VC = TC/FC D. VC = (TC)/(FC) Correct…

5 years ago

The migration of young people from rural to urban areas in Nigeria should help to raise the?

A. standard of living in urban areas B. total productivity of labour in rural areas C. marginal productivity of labour…

5 years ago

The major objective of current campaign for family planning in Nigeria is to?

A. reduce the death rate B. limit the number of women a man can marry C. keep the population growth…

5 years ago