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Economics Past Questions and Answers

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Economics Questions

Question 2371:

The concept of economics efficiency primarily implies

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A Containing the maximum output from available resources at the lowest possible cost
B Conserving our petroleum resources
C Equity in the distribution of the nation's wealth
D Production without waste
E The limited wants unlimited resources dilemma

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Question 2372:

Which of the following is true of NEPA as a public corporation in Nigeria? It is

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A A solar energy distribution
B Organized in a perfectly competitive market
C A duopoly
D A monopolistically competitive industry
E A monopoly

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Question 2373:

a situation of full employment exist when

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A Every adult is employed
B All adukts who can work are employed
C All persons who have attained the age of 15 years and above are employed
D Only the disabled are not employed
E All those who are able and eligible to work are employed

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Question 2374:

which of the following function of money makes it possible for any person to provide for old age?

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A Medium of exchange
B Stores of value
C Measures of value
D Unit of account
E Standard for deferred payment

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Question 2375:

The primary objective of Agricultural Credit Guarantee Scheme is the provision of

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A Guarantee for loans granted by by banks for agricultural purposes
B Agricultural inputs to facilitate credits from banks
C Loans for every farmer
D Agricultural products for farmers
E Credit for farmers

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