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Economics Past Questions and Answers

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Economics Questions

Question 616:

One of the ways by which Government derives revenue from industrial enterprises in West Africa is?

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A Tariffs
B Excise duties
C Poll tax
D Import duties
E Community tax

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Question 617:

What is the most important factor influencing the location of the iron and steel industry at Ajaokuta?

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A Availability of labour in the area
B Acces to transport facilities
C Nearness of raw materials
D Availability of power
E Nearness of Technical and Engineering School

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Question 618:

A good measure of the standard of living usually used for international comparison is

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A Gross natioal income (GNI)
B Net national income (NNI)
C Gross national product (GNP)
D Gross domestic product (GDP)
E Per capital income (PCI)

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Question 619:

A commodity can be sold for two or more different prices if it is?

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A Produced or sold by oligopoly
B Sold in perfect market
C Produce or sold by monopsony
D Produced or sold by monopoly
E Produced or sold by perfect competition

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Question 620:

The PAYE (Pay As You Earn) in Nigeria is an example of?

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A Indirect tax
B Progressive tax
C Regressive tax
D Community tax
E Flat rate tax

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