economics

A major determinant of the demand for a luxury good is __________?

A. the price of other goods B. the price of the good C. tastes and fashion D. the income of…

5 years ago

The savings deposit in a commercial bank is?

A. near money B. call money C. capital D. fund Correct Answer: Option C - capital

5 years ago

The ultimate objectives of economics is to _________?

A. decide under what circumstances that government should intervene in the economy B. Organize production at the lowest cost C.…

5 years ago

Subsistence farming means producing food?

A. Mainly for the need of our immediate and extended family B. Crops for sale mainly C. Crops mainly for…

5 years ago

The term marginal propensity to consume can best be explained as the?

A. Desire to spend more income on consumption B. Change in consumption as a percentage of change in income C.…

5 years ago

Which of these factors does not affect revenue allocation in Nigeria?

A. Needs of an area B. Size of the population of an area C. Number of industries and land areas…

5 years ago

The imposition of high income tax by government to cut down demand is known as?

A. Monetary policy B. Budgetary policy C. Fiscal policy D. Internal policy E. Development policy Correct Answer: Option C -…

5 years ago

Which of the following crops can be referred to as Nigeria’s current export crops?

A. Rubber, Groundnuts, Beniseed, cotton. B. Shear butter, Sorghum, Onions. C. Rubber, Cocoa, Coffee, Palm Kernel D. Palm Oil, Palm…

5 years ago

When the demand for a commodity is inelastic, who bears the greater burden of the indirect tax?

A. The producer B. The government C. The retailer D. The consumer E. The wholesaler Correct Answer: Option D -…

5 years ago

External economies occur when?

A. Industries are scattered all around B. A firm decides to expand C. Industries are producing below capacity D. Firms…

5 years ago