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Friday, 10 July 2026
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Economics Past Questions and Answers

Economics Questions

Question 2811:
which of the following is necessary for the survival of small firms in West Africa?
  • A Acess to loand for development
  • B Inadequate collaterals for bank loans
  • C Government assistants in form of loans and tax holidays
  • D High transportation cost
View Answer & Explanation
Question 2812:
A normal demand curve slopes
  • A Downward from left to right
  • B Upwards from left to right
  • C Downwards from right to left
  • D Upwards from the origin
View Answer & Explanation
Question 2813:
If the quantity demanded of a commodity increases from 20 to 30 units where there is an increase in price from 4naira to 5 naira, the elasticity of demand is
  • A 0.0
  • B 1
  • C 2
  • D 5
View Answer & Explanation
Question 2814:
Price elasticity supply measures the responsiveness of quantity supplied to
  • A Change in suppliers' income
  • B Change in price of otther commodities
  • C A change in the rpice of the commodities
  • D A change in the demand for the products
View Answer & Explanation
Question 2815:
The most common type of business in West African countries is
  • A Joint-stock companies
  • B Sole proprietorships
  • C Partnership
  • D Public enterprises
View Answer & Explanation