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Economics Past Questions and Answers

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Economics Questions

Question 1271:

In recent times, agriculture in Nigeria tends to lose its vital labour force as a result of?

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A Lack of an effective agricultural policy
B Employment opportunities in the oil sector
C Rural-urban drift
D Low prices of agricultural products

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Question 1272:

The government can influence the price of agriculture products by?

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A Fixing minimum prices when agricultural output is low
B Fixing maximum prices in years of bumper harvest
C The use of buffer stock and stabilization funds
D Paying all farmers producing identical crops a uniform amount of money

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Question 1273:

The crucial factors which determine the location of petroleum refineries in Nigeria are availability of raw materials and?

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A Capital
B Political consideration
C Nearness to source of power
D Labour

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Question 1274:

Infant industries denote industries which?

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A Are introducing new products
B Are too young to compete in the world market
C Produce baby food and mother care products
D Are allowed time enough to mature for recognition

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Question 1275:

When compared with a labour-intensive industry, a capital-intensive industry employs more?

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A Workers than capital
B Workers than machinery
C Raw materials than capital
D Machinery than workers

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