economics

Which of the following is a measure of central tendency?

A. Percentage B. graph C. variance D. Median Correct Answer: Option D D. Median

6 years ago

A collective data which has not been processed is referred to as?

A. disjointed data B. raw data C. class intervals D. frequency Correct Answer: Option B B. raw data

6 years ago

The entire satisfaction that a consumer derived from a successive consumption of a particular commodity is known as?

A. marginal utility B. total utility C. average utility D. diminishing utility Correct Answer: Option B B. total utility

6 years ago

Basic extractive activities are classified as?

A. manufacturing production B. tertiary production C. secondary production D. primary production Correct Answer: Option D D. primary production

6 years ago

Economy problems arise mainly as a result of?

A. inaccurate statistical data in West Africa B. excessive wastage of available resources C. lack of foresight on the part…

6 years ago

Scarcity implies that?

A. goods cannot be produced efficiently B. human wants are unlimited C. goods and services are limited in supply D.…

6 years ago

The main role of the Organization of Petroleum Exporting Countries (OPEC) is?

A. fixing oil production levels B. ensuring optimum production of oil C. promoting efficiency in the management of oil D.…

6 years ago

A country is economically rich if?

A. If there is a lot of money in circulation relative to its population B. It has a large volume…

6 years ago

Which of the following is a major barrier to international trade?

A. religious differences amongst nations B. uneven distribution of population across the world C. educational imbalance between the developed and…

6 years ago

The exchange of goods and services across countries can be described as?

A. Bi-lateral trade B. multilateral trade C. national trade D. home trade Correct Answer: Option B B. multilateral trade

6 years ago