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Economics Past Questions and Answers

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Economics Questions

Question 2081:

Government participation in the oil industry was necessitated by the

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A Annual increase in production
B Formation of OPEC
C High demand for crude oil
D Huge investment outlay

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Question 2082:

The deregulation of the petroleum sector in Nigeria will bring about

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A Efficiency in pricing and distribution of the products
B An end to the importation of fuel
C An end to foreign firms' dominance
D Fixing appropriate production quotas

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Question 2083:

A distinguishing characteristic of consumer co-operative society is that the

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A The maximum number of shareholders is 20
B Members are the owners
C Members are the workers
D The minimum number of shareholders is 5

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Question 2084:

A major disadvantage of partnership business is

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A Difficulty in the transfer of shares
B Distrust among members
C Limited liability
D Large capital outlay

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Question 2085:

The quality of labour force in Nigeria can be improved by

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A Establishing more tertiary institutions
B Creating sufficient job opportunities
C Encouraging the study of science and technology
D Establishing more skills acquisition centres

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