economics

External economies refer to the?

A. cost-saving advantage a firm enjoys when by being close to other firms in the same industry B. disadvantage to…

5 years ago

Total cost is the addition of?

A. real cost and money cost B. price and taxes C. fixed cost and variable cost D. average cost and…

5 years ago

The introduction of division of labour in a firm will lead to?

A. a fall in output B. a decline in the efficiency of labour C. an increase output D. the separation…

5 years ago

The equilibrium price of mangoes is N1.00. If the price fall to 50k, there will be?

A. an excess demand B. an excess supply C. a surplus in the market D. many sellers in the market…

5 years ago

Exceptional demand is one in which?

A. supplier sells all that he takes to the market B. consumers do not buy from the market C. quantity…

5 years ago

Which of the following will shift the demand curve for Milo to the right?

A. an increase in consumer's income B. a rise in the price of Milo C. a tax on cocoa producers…

5 years ago

If the last Naira spent on each commodity by a consumer gave him equal satisfaction, it means the consumer has been able to?

A. cut costs B. maximize costs C. increase profits D. maximize utility E. manage scarce resources Correct Answer: Option D…

5 years ago

One way of solving the problem of scarcity that faces the individuals is for?

A. the government to import goods massively so that the citizen can get all they want B. them to work…

5 years ago

If a country operates a freely floating exchange rate system, and suffers a balance of payments deficit can be eliminated through?

A. a rise in the external value of its currency B. a fall in the external value of its currency…

5 years ago