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Friday, 17 July 2026
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Economics Past Questions and Answers

Economics Questions

Question 2391:
Petro-chemicals industries are located in River State of Nigeria due to the presence of
  • A A favourable climate
  • B Coal deposits
  • C Oil palm products
  • D An undullating terrain
  • E Oil deposits
View Answer & Explanation
Question 2392:
Foreign exchange control in Nigeria is enforced by the
  • A Commercial banks
  • B Merchant banks
  • C Mortgage banks
  • D Central banks
  • E Agricultural development banks
View Answer & Explanation
Question 2393:
The difference between the number of immigrants and emigrants is
  • A Internal mobility
  • B Internal migration
  • C Net migration
  • D Marginal migration
  • E External migration
View Answer & Explanation
Question 2394:
Risk bearing and managerial control are the main function of the
  • A Managing director
  • B Manager
  • C Entrepreneur
  • D Chief excecutive
  • E Chief accountant
View Answer & Explanation
Question 2395:
If successive unit of labour are added to a piece of land while capital and technology remains constant, a point will be reached in the level of production when each additional unit of labour will add less to the output than previous units. This concept is known as
  • A Productivity of labour
  • B Law of diminishing marginal utility
  • C Law of diminishing returns
  • D Law of diminishing returns of a variable factor
  • E Internal economies of sales
View Answer & Explanation