economics

The International Bank of Reconstruction and Development (IBRD) is important to the developing nations because it?

A. Gives loans to member s for legal proceedings B. Offer grants and aids for defense C. Enhances financial relationship…

5 years ago

Which of the following is not a feature of Sole Proprietorship?

A. The Sole Proprietor provides the capital to start the business B. The Sole Proprietor is the boss of his…

5 years ago

An economic system in which most capital goods are owned by individuals and private firms is known as?

A. Mixed economy B. Planned economy C. Capitalist economy D. Traditional economy E. Civilized economy Correct Answer: Option C -…

5 years ago

Nigerian indigenization decree was promulgated in order to?

A. Allow indigenes to have full participation in the economic activities of the country B. Drive-away foreigners C. Give equal…

5 years ago

If a producer sells 1kg of rice for N20 and his marginal products is 100kg, what is the highest wage he can pay the marginal labourer?

A. N 20.00 B. N 30.00 C. N 50.00 D. N 100.00 E. N 200.00 Correct Answer: Option E -…

5 years ago

The major currency used for granting credits to member countries of the International Monetary Fund (IMF) is the?

A. US dollars B. Canadian dollars C. Pounds sterling D. Deutschemark E. Belgian franc Correct Answer: Option A - US…

5 years ago

When the demand for a commodity is inelastic, total revenue will fall if?

A. Price is increased B. Price is reduced C. Price remains constant D. Price is not given E. The commodity…

5 years ago

When the price of commodity A increases, the demand for commodity B decreases, then A and B are?

A. Close substitutes B. Complementary goods C. Supplementary goods D. Gifted goods E. Luxurious goods Correct Answer: Option B -…

5 years ago

Price control can be defined as the fixing by Government of maximum or minimum price of?

A. Luxury goods B. Inferior goods C. Imported capital goods D. Certain selected goods E. Goods consumed by low-income earners…

5 years ago

Which of these factors does not cause a change in demand?

A. Income B. Taste and fashion C. Population D. Price of other commodities E. Price of the commodity concerned Correct…

5 years ago