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Economics Past Questions and Answers

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Economics Questions

Question 2266:

In a sole proprietorship decisions are made by the

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A Government
B Owner
C Shareholder's conference
D Management
E Board of directors

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Question 2267:

Which of the following statements is not true in an inflationary period?

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A The purchasing power diminishes
B Wages rise simultaneously with prices
C More money runs after a limited quantity of goods
D Fixed income earners lose
E Aggregate real demand exceeds aggregate real supply

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Question 2268:

Palm oil industry in located in Bendel State because the state

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A Imports raw materials for the industry
B Has a poor soil which is unsuitable for other crops
C Is a palm-tree growing area
D Government does not engage in the growing of other crops
E Has the highest demands for apl oil in Nigeria

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Question 2269:

Which of the following is not an argument for locating industries in rural areas?

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A Rural areas supply agricultural raw materials
B The pace of development of rural areas will be quicken
C Employment will be for rural inhabitants
D Capital is easily available in rural areas
E Rural-urban migration will decrease

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Question 2270:

<br/>This is a pie-chart showing the age distribution of population. The total population is 120 million. The official school-leaving age is 18 years while the official retiring age is 55 years.<br/>(a) From the above information, calculate the:<br/>(i) Population of children between 0 and 17 years.<br/>(ii) population of old people (55 + years);<br/>(iii) work-ing population (18 - 54 years) .<br/>(b) what is the economic implication of the above population structure?<br/>

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