economics

Factory buildings, machinery and raw materials are known in Economics as?

A. personal wealth B. social wealth C. government wealth D. business wealth E. public wealth Correct Answer: Option D -…

5 years ago

Limited liability means that?

A. the debt of a company can only be paid from its own assets B. the debts of a company…

5 years ago

Under normal circumstances, a producer will bear the entire burden of taxation on his output if the?

A. supply of his goods is more elastic than the demand B. demand for his products is completely elastic C.…

5 years ago

When a firm’s total revenue is at the maximum, marginal revenue is?

A. at the maximum B. negative C. zero D. positive E. constant Correct Answer: Option C - zero

5 years ago

Risk bearing and managerial control are the main function of the?

A. managing director B. manager C. entrepreneur D. chief executive E. chief accountant Correct Answer: Option C - entrepreneur

5 years ago

Foreign exchange control in Nigeria is enforced by the?

A. Commercial banks B. Merchant banks C. Mortgage banks D. Central banks E. Agricultural development banks Correct Answer: Option D…

5 years ago

Petro-chemicals industries are located in River State of Nigeria due to the presence of?

A. a favourable climate B. coal deposits C. oil palm products D. an undulating terrain E. oil deposits Correct Answer:…

5 years ago

Mr. Idowu needs television and a refrigerator. Each cost N500.00, the exact amount he has. If Mr. Idowu buys the television, the refrigerator would be regarded as the

A. marginal cost B. inferior item C. opportunity cost D. supplementary item E. prime cost Correct Answer: Option C -…

5 years ago

Which of the following is not a problem of distribution of goods in Nigeria?

A. poor communication network B. inadequate storage facilities C. ignorance of consumers D. Dishonesty of middlemen E. inadequate market Correct…

5 years ago

One of the functions of a commercial bank is that it?

A. is responsible for formulating monetary policies B. accepts demand and time deposits from customers C. is the lender of…

5 years ago