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Economics Past Questions and Answers

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Economics Questions

Question 1146:

The main function of the price system is to?

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A Distribute resources equally among competing ends
B Ensure efficient allocation of resources in the economic system
C Allocate goods and services equally
D Minimize cheating

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Question 1147:

A system in which the means of production is held in trust for the people by government is known as a?

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A Socialist economy
B Capitalist economy
C Subsistence economy
D Mixed economy

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Question 1148:

The working population refers to?

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A A population where the average age is falling
B The population within the '0 -14'age bracket
C The economically active segment of the population
D The dependent population

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Question 1149:

Which of the following factors is NOT responsible for the rural/urban drift in Nigeria?

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A The infrastructural facilities in cities
B Declining fertility of rural farmlands
C Rural electrification programme
D Higher living standards in urban areas

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Question 1150:

An accurate census is important to a country because it helps?

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A In solving unemployment problem
B To ensure equitable population redistribution relative to natural resources
C In deciding on the creation of more local government
D In providing a second basis for formulating development policy

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