economics

In a country with ageing population, the total population?

A. comprises young school leavers only B. comprises mainly women C. is increasing at a low rate D. has reached…

6 years ago

The difference between the highest and lowest in a set of data is?

A. range B. median C. variance D. mode Correct Answer: Option A A. range

6 years ago

Which of the following is the function of an entrepreneur?

A. Avoidance of risks B. decision making C. employment control D. Organizing unions Correct Answer: Option B B. decision making

6 years ago

Reward for entrepreneurship is?

A. rent B. wages C. interest D. profit Correct Answer: Option D D. profit

6 years ago

Quasi-rent refers to?

A. payment made on acquisition of a firm's premises B. payment made for the procurement of tools and equipment C.…

6 years ago

The economic system in which resources are privately owned dis known as?

A. Capitalism B. Socialism C. communism D. unitarism Correct Answer: Option A A. Capitalism

6 years ago

Economics problems arise because?

A. resource are scarce relative to wants B. man is insatiable C. money is scarce D. man engages in too…

6 years ago

An economic system in which the state owns and controls the means of production is known as?

A. socialist economy B. Mixed economy C. Capitalist economy D. welfare economy Correct Answer: Option A A. socialist economy

6 years ago

Gross Domestic Product (GDP) at market price plus net factor income from abroad gives?

A. gross capital formation B. net capital formation C. disposable income D. gross national product Correct Answer: Option D D.…

6 years ago

which of the following is not a benefit derived by Nigeria from the petroleum industry?

A. increased foreign exchange earnings B. establishment of refineries and petrochemical industries C. employment of a greater proportion of the…

6 years ago