Economics Past Questions and Answers

The need to construct a scale of preference is necessitated by____________

The privatization exercise in Nigeria is a move towards a____________

The mean is the best measure of central tendency because it__________

<table class='tbn'><tbody><tr><td> No of Men </td><td> 1 </td><td> 2 </td><td> 3 </td><td> 4 </td><td> 5 </td><td> 6 </td><td> 7 </td><td> 8 </td><td> </td></tr><tr><td> Total Product(unit) </td><td> 200 </td><td> 440 </td><td> 540 </td><td> 600 </td><td> 640 </td><td> 660 </td><td> 660 </td><td> 640 </td></tr></tbody></table><br/><br/>If the price per unit is N2, what is the average revenue when 6 men are employed?

The current stage of the economy is depicted in curve I. The movement of curve I to II suggests___________