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Economics Past Questions and Answers

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Economics Questions

Question 741:

An economic problem exists whenever

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A There is scacity and choice
B There are no buyers for our goods
C There are too many sellers
D Many people are out of work
E All raw materials are imported

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Question 742:

The meaning of scale of preference is?

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A Preparing a list of goods and services to be purchased in order of priority
B Showing the monthly income
C Budget preparation without due regard to proper proirities
D Consumers' preference for luxury goods
E Consumers preference for foreugn goods

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Question 743:

Optimum population is desirable because it enables an economy to obtain maximum?

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A Per capita income
B Per capital output
C Per capita real income
D Per capital revenue
E Growth rate

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Question 744:

The age distribution of a population is NOT influenced by?

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A Brith rates
B Death rates
C Patterns of immigration
D Patterns of emmigration
E School leaving age

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Question 745:

One theory of population contends that population tends to increase much faster than the supply of food, and that if the growth in population is not checked , it will be checked by natural forces like misery disasters and food shortages. This theory was propounded by?

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A Prof. Paul Samuelson
B Adam Smith
C David Ricardo
D Rev. Thomas Malthus
E Prof. Ojetuuji Aboyade

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