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Economics Past Questions and Answers

Economics Questions

Question 1111:
Farmers' income may fall if they produce more cash crops for export because?
  • A Foreign demand is inelastic
  • B The price of the crops will rise
  • C Of domestic currency depreciation
  • D Of export duties
View Answer & Explanation
Question 1112:
Under the Nigerian Structural Adjustment Programme, the marketing of agricultural commodities in Nigeria has been placed under?
  • A The marketing boards
  • B The commodity boards
  • C The river-basin authorities
  • D Private investors and individuals
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Question 1113:
The primary barrier to land reform in developing countries is the?
  • A Frequent opposition by the landlords
  • B Realization that output levels might fall
  • C Fear that peasants will be cut off from credit
  • D General contentment with the present arrangement
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Question 1114:
Firms are often set up close to each other in order to take advantage of?
  • A Supply or skilled labour
  • B Agglomeration economies
  • C Internal economies of scale
  • D External economies of scale
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Question 1115:
The consumer-goods industry is predominant in the industrial sector of the Nigerian economy because of the?
  • A Availability of market and most of the raw materials required
  • B Availability of the necessary machinery required
  • C Experience of Nigerian producers
  • D Relatively lower cost of production of such goods
View Answer & Explanation