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Economics Past Questions and Answers

Economics Questions

Question 2616:
Highlight the causes of Balance of payments deficits in your country.
    View Answer & Explanation
    Question 2617:
    Scarcity implies that
    • A Goods cannot be produced efficiently
    • B Human wants are unlimited
    • C Goods and services are limited in supply
    • D Commodities are evenly distributed within the economy
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    Question 2618:
    economy problems arises mainly as a result of
    • A Inaccurate statistical data in West Africa
    • B Excessive wastage of available resources
    • C Lack of foresight on the part of resource users
    • D Limitation in the availability of resouces
    View Answer & Explanation
    Question 2619:
    Basic extractive activities are classified as
    • A Manufacturing production
    • B Tertiary production
    • C Secondary production
    • D Primary production
    View Answer & Explanation
    Question 2620:
    The entire satisfaction that a consumer derived from a successive consumption of a particular commodity is known as
    • A Marginal utility
    • B Total utility
    • C Average utility
    • D Diminishing utility
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