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Economics Past Questions and Answers

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Economics Questions

Question 676:

Which of the following defines Economics most comprehensively?

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A Buying and selling
B Organization and Industries
C Study of human behaviour in the allocation of scarce resources
D National development planning and budgeting
E Banking and Insurance

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Question 677:

Age-structure in Nigeria is such that the working age-group is in the years

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A 1-15
B 15-65
C 30-40
D 40-65
E 65 and above

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Question 678:

NEPA as a public corporation is?

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A A power generating industry in Nigeria
B Organized in a perfect competitive market
C A duopoly
D A monopolistically competitive industry
E A monopoly

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Question 679:

When demand is elastic, it means that consumers

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A React more proportionately to price change
B Are not sensitive to price changed
C Will stop buying when price increases
D React less proportionately to price change
E React equally to price change

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Question 680:

Full employment is a situation in which?

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A Every adult is employed
B All adults who can work are employed
C All person who attained the age of 15 and above are employed
D Only the disabled are not employed
E All those who are able and eligible can find employment

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