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Economics Past Questions and Answers

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Economics Questions

Question 1106:

A firm with marginal cost equals to its marginal revenue will produce the equilibrium output if it is in?

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A Pure competition only
B Pure monopoly only
C Monopolistic competition only
D Any type of market

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Question 1107:

An important function of the retailer is to?

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A Grant credit to the wholesaler
B Break bulk and sell products in small units
C Reduce cost of distribution
D Generate demand for products through advertisement

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Question 1108:

The main handicap of sole proprietorship is?

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A Limited liability
B Lack of technical know-how
C Low profit margin
D Inadequate capital

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Question 1109:

The main reason for the current programme of privatization and commercialization of public enterprises in Nigeria is to?

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A Reduce public expenditure
B Encourage efficiency in the performance of such enterprises
C Reduce the number of public enterprises
D Raise the prices of goods and services produced by the enterprises

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Question 1110:

The type of business finance that entitles the holder to a fixed rate of dividend is?

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A Perferred stock
B Common stock
C Debenture
D Bank loan

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