economics

Where was oil first discovered in commercial quantities in Nigeria?

A. Oloibiri B. Warri C. Elesa Eleme D. Onitsha E. Port Harcourt Correct Answer: Option A - Oloibiri

5 years ago

In a mixed economy, decisions to produce are taken by?

A. men and women acting in their own best interest B. the government acting in the interest of the country…

5 years ago

The necessity of choice is due to the fact that?

A. human wants are insatiable B. consumers like to maximize satisfaction C. resources are abundant D. consumers are selective Correct…

5 years ago

Which of the following is not an objective of the Indigenisaton policy in Nigeria? To

A. Make Nigerians dominate their economy B. increase Nigerians participation in the economy C. prevent foreign monopoly of the economy…

5 years ago

The circular flow of income defines the?

A. relationship between ends and means in the economic system B. allocation of income to various members of the household…

5 years ago

Opportunity cost is an economic concept which describes the?

A. monetary equivalent of the utility of a commodity B. amount of time or money invested on a commodity C.…

5 years ago

The basic economic problems of the society include?

A. what to produce, how and for whom B. how to produce and sell C. scarcity, when to produce and…

5 years ago

Which of the following is the source of raising funds for a public limited liability company in West Africa?

A. Bank loans B. issue of shares C. issue of debentures D. ploughing back profits E. Sales of bonds Correct…

5 years ago

Which of the following is not a feature of a perfect market?

A. large number of buyers and sellers B. Homogeneity of products C. Preferential treatment D. Absence of transport cost E.…

5 years ago

Balance of trade can be defined as?

A. the value of import in relation to the value of a country's exports B. the price ratio of imports…

5 years ago