economics

The major function of the wholesaler to his customers is?

A. breaking of bulk B. offering personal services C. stocking a variety of goods D. providing transport facilities Correct Answer:…

4 years ago

A major effect of a long distribution chain is?

A. high retail prices B. scarcity of commodities C. low retail prices D. low producer earnings Correct Answer: Option B…

4 years ago

Firms continue to employ workers until the wage rate equals the?

A. average product of labour B. marginal revenue product of labour C. total product of labour D. sum of marginal…

4 years ago

The age distribution of a country’s population determines the?

A. ratio of the dependent to the working group B. total age of all working-class adults C. male-female ratio D.…

4 years ago

A well conducted census is important for?

A. effective defense B. effective revenue generation C. good economic planning D. optimum population Correct Answer: Option C - good…

4 years ago

As a producer’ association; the OPEC expects its members to maintain production where marginal cost is?

A. greater than price B. less than price C. equal to price D. equal to average cost Correct Answer: Option…

4 years ago

The Nigerian economy is mono-cultural because government revenue is derived mainly from?

A. agriculture B. manufacturing C. coal D. crude oil Correct Answer: Option D - crude oil

4 years ago

Industries contribute to national economic development because they?

A. utilize local raw materials B. employ an increase in the number of labour C. provide recreational facilities D. use…

4 years ago

The slow pace of industrial growth in Nigeria can be attributed to?

A. overdependence on the oil sector B. inadequate number of unskilled labour C. lack of raw materials D. inadequate infrastructural…

4 years ago

A primary industry is concerned with?

A. extraction of resources in their raw states B. the operation of small scale enterprises C. the economic activities of…

4 years ago