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Tuesday, 07 April 2026
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Economics Past Questions and Answers

Economics Questions

Question 1216:
A major shortcoming of the sole proprietorship form of business is lack of?
  • A Working capital
  • B Patronage
  • C Continuity
  • D Market
View Answer & Explanation
Question 1217:
In the event of liquidation of a private limited liability company, the shareholders' liability is limited in their total?
  • A Income from all sources
  • B Family assets
  • C Collateral offered for bank loans
  • D Investment inthe company
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Question 1218:
The major factor that causes fluctuations in the supply of agricultural produce is?
  • A High price
  • B Pests
  • C Weather variations
  • D Rural-urban migration
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Question 1219:
The system of agriculture practice which involves hunting, gathering and growing of food crops for family consumption only is described as?
  • A Peasant agriculture
  • B Plantation agriculture
  • C Co-operative farming
  • D Subsistence farming
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Question 1220:
What is the term used to describe a policy aimed at promoting the local production of goods which are usually imported?
  • A Deregulation
  • B Import substitution
  • C Tariff reduction
  • D Backward integration
View Answer & Explanation