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Economics Past Questions and Answers

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Economics Questions

Question 561:

An economy in which both the public and the private sectors contribute substantially to the growth of output is?

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A A socialist economy
B A capitalist economy
C A mixed economy
D An industrial economy
E A peasant economy

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Question 562:

Which is NOT an important factor responsible for high concentration of population in some part of Nigeria?

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A Climate influences
B Development of trade and markets
C Soil fertility
D Processing of petroleum oil
E Concentration of educational facilities

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Question 563:

Prohibiting the sale of lace materials in Nigeria would probably lead to?

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A Increase supply of lace material in Nigeria
B Production of better quality lace abroad
C Lower price of lace material in Nigeria
D Higher price of lace material in Nigeria
E Increase income to all dealers of lace materials in Nigeria

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Question 564:

Which of the following is NOT a visible item on international trade payment?

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A Payment for imported cars
B Receipt from cocoa exports
C Payments to foreign shipping companies
D Payments for steel imports
E Payment for petroleum imports

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Question 565:

Given the international trade statistics of Nigeria for the past 6 years, which of these statements would you consider to be correct?

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A The value of industrial exports is declining
B The value of industrial imports is constant
C The share of agricultural exports is increasing
D The share of agricultural export is decreasing
E The value of mineral export is declining

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