economics

The determinants of elasticity include?

A. price, time and availability of alternatives B. technology and cost of production C. time and availability of alternatives D.…

5 years ago

Normative economics deals with?

A. what is and not what should be B. facts and not figures C. facts and figures D. value judgements…

5 years ago

The shape of a production possibility frontier is determined by the?

A. increasing relative costs B. returns to scale C. diminishing returns to a fixed factor D. increasing returns to a…

5 years ago

Abubakar has the choice of buying either a house ruining cost. If he decides to buy the Mercedes Benz car, his opportunity cost is?

A. N 1.5 m B. N 2.0m C. the house D. the car Correct Answer: Option C - the house

5 years ago

Which of the following countries is not a member of the Economic Community of West African States (ECOWAS)?

A. Ghana B. The Gambia C. Cameroun D. Guinea Bissau Correct Answer: Option C C. Cameroun

6 years ago

West African countries have low level of economic development due to?

A. under-population B. inadequate labour C. failure to plan D. ineffective plan implementation Correct Answer: Option D D. ineffective plan…

6 years ago

Balance of payment deficit implies that a country is?

A. importing more than she is exporting B. consumed less than she is producing C. living below her means D.…

6 years ago

One major export crop in West Africa is?

A. rice B. maize C. palm kernel D. cocoa Correct Answer: Option D D. cocoa

6 years ago